INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Income, expenditures, profit
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Assets, liabilities, owner’s equity
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Assets, liabilities, margin
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Revenues, expenses, profit
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Detailed explanation-1: -The balance sheet includes information about a company’s assets and liabilities. Depending on the company, this might include short-term assets, such as cash and accounts receivable, or long-term assets such as property, plant, and equipment (PP&E).
Detailed explanation-2: -Assets and liabilities can be classified as follows: intangible assets, Fixed Assets, current assets, floating assets, current liabilities, long-term liabilities, contingent liabilities.
Detailed explanation-3: -The balance sheet items can be broadly divided into current assets, non-current assets, current liabilities, non-current liabilities, and shareholders’ equity. Typically, assets are placed on the left-hand side of the balance sheet, and liabilities on the left-hand side.
Detailed explanation-4: -1 A balance sheet consists of three primary sections: assets, liabilities, and equity.