Share Accounting and financial statements
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On a balance sheet, 'assets' are what you ow_ and 'liabilities' are what you ow_.
own, owe
The loss in value of a tangible asset over time is called 'd_____n'. This loss is 'w____en o__' in the accounts over several years. The loss in value of an intangible asset is called 'am___n'.
depreciation / written off / amortization
The term 'debtor' is now often replaced with 'accounts rec___le'. Similarly, 'creditor' is often replaced with 'accounts p_____le'.
receivable / payable
The total value of raw materials + work-in-progress + unsold stock is called 'in_____y'.
inventory
Expenses that have been incurred but are not yet paid are called 'acc____d expenses'.
accrued
The extent to which a firm relies on debt financing rather than equity financing is called its 'lev___age'.
leverage
