Question

What is basic terms of accountancy. please answer it immediately.​

Answer 1

Answer:

Accounting Terms. ... Accounts Payable - Accounts Payable are liabilities of a business and represent money owed to others. Accounts Receivable - Assets of a business and represent money owed to a business by others. Accrual Accounting - Records financial transactions when they occur rather than when cash changes hands.

Explanation:

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