Cash Equivalent
Short-term, highly liquid investments that can be quickly converted into a known amount of cash typically within three months. Examples include treasury bills and money market funds. Cash equivalents are included in cash on the balance sheet and are used to assess liquidity.
More Items
Capital Lease
A long-term lease that essentially functions as a purchase. The lessee assumes ownership-like risks and benefits, and the asset is…
Contingent Liability
Contingent liability is a potential obligation that may arise depending on the outcome of a future event, like a lawsuit…
Closing Entries
Journal entries made at the end of an accounting period to reset temporary accounts like revenue and expenses to zero.…
This website uses cookies to improve your experience. You can accept all or reject non-essential cookies.