Explain the following
1) Drawing
2)Assetes
3) liabilities
Answers
Answer:
A liability is something a person or company owes, usually a sum of money. ... Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.
A drawing account is an accounting record maintained to track money withdrawn from a business by its owners. A drawing account is used primarily for businesses that are taxed as sole proprietorships or partnerships.
An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit. Assets are reported on a company's balance sheet and are bought or created to increase a firm's value or benefit the firm's operations.
Answer:
1)Drawing is a form of visual art in which one uses various drawing instruments to mark paper or another two-dimensional medium. Instruments include graphite pencils, pen and ink, various kinds of paints, inked brushes, colored pencils, crayons, charcoal, chalk, pastels, various kinds of erasers, markers, styluses, and various metals (such as silverpoint). Digital drawing is the act of using a computer to draw. Common methods of digital drawing include a stylus or finger on a touchscreen device, stylus- or finger-to-touchpad, or in some cases, a mouse. There are many digital art programs and devices.
2)assets are financial assets and liabilities that are difficult to value. Although a fair value can be determined based on other data values or market prices, these assets do not have regular market pricing.
3)A liability is something a person or company owes, usually a sum of money. ... Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses
Explanation:
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