Negotiable Instruments : A device used in place of cash in transaction. Checks and money orders are both familiar kinds of negotiable instrument. So are notes, which are written promises to pay a specific amount of money within a specified time.
Sales Invoice : A business papaer showing the description, quatity, and the unit and total price of goods sold to a customer.
Assets : The resources owned by the business. Current assets include cash, as well as other instruments that normally can be converted into cash or sold. Fixed assets are tangible assets, such as land, buildings, and machinery. Intangible assets include franchises, patents, copyrights, and goodwill. Other assets include investment, such as stocks, bonds, and real estate.
Liabilities : Liabilities are the opposite of assets; that is, they are what the organiation owes. Obligations that must be paid within the current fiscal period are current liabilities, while those which are not during the current fiscal period are long-term liabilities.
