BASIC ACCOUNTING CONCEPT

What we call a person who owes money to the firm ?. debtor. creditor.

What the owner of the business is called?.

money spent in conducting the business activities?. loss. expenses.

Which book is called 'Book of original entry' ?. ledger. journal. cash book. passbook.

what are the other word used for curreny assets?. liqued asset. floating assets.

Recording of a transaction either in the journal or in the ledger.

What is the abbreviation of debtor.

What we call the amount earned through business opeation.

A claim or right over the business. income. equity.

what do you call excess of assets over liabilities in accountancy. income. capital.