Assets and liabilities


Section
Question | Answer |
---|---|
Assets | a resource controlled by a business as a result of something that happened in the past from which economic benefits (things which make the company better off financially) are expected to flow in the future. (активы) |
Current assets | expected to be used up, sold or collected in a short period (generally less than 12 months) (краткосрочные активы) |
Non-current assets | assets that the business expects to continue using for a number of years in the business |
Inventory | items that are bought for resale. It includes raw materials that we will make into items to sell, work-in-progress and finished goods. |
Liability | an obligation to give an economic benefit to someone as a result of something that happened in the past. It can also be thought of as something that a business owes (обязательства) |
Capital | the amount which the business owes to its owners. |
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