Financial Accounting

Debits and Credits

Introduction to Debits and Credits Debits and credits are two sides of the same transaction in the world of accounting. They get recognition at the time of recording the …

Liquid Assets

12Meaning of Liquid assets Liquid assets are those assets that are equivalent to or as good as cash. Their liquidation is secure, meaning that the holder can convert them …

Short-term Liabilities

A liability is a debt or legal obligation of the business to another individual, bank or entity. There could be both short-term liabilities as well as long-term liabilities. Liability …