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    niggz's Avatar
    niggz Posts: 3, Reputation: 1
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    #1

    Jul 8, 2012, 03:56 AM
    I get my assets and revenues mixed up, also with my liabilities and expenses.
    I always seem to muddle these up. Can someone please give me a good definition of each, along with examples that come in each category? Thanks.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Jul 8, 2012, 04:51 AM
    Quote Originally Posted by niggz View Post
    I always seem to muddle these up. Can someone please give me a good definition of each, along with examples that come in each category? Thanks.
    aseets add value, liabilities take it away, revenue is cash flow in, expenses is cash flow out
    niggz's Avatar
    niggz Posts: 3, Reputation: 1
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    #3

    Jul 17, 2012, 03:21 AM
    Quote Originally Posted by paraclete View Post
    aseets add value, liabilities take it away, revenue is cash flow in, expenses is cash flow out
    thanks, but what do you mean by 'add value'?
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    paraclete Posts: 2,706, Reputation: 173
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    #4

    Jul 17, 2012, 06:18 AM
    well they are something that will contribute value to the business over time, i.e. plant and machinery are a means of production, buildings are a base for business operations, cash is essential to fund operations, vehicles facilitate transport. Net Assets = Equity
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