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Management (767)
MGT120H5 (39)
Lecture

MGT120 Lecture #1 First lecture of accounting, brief intro and basic foundation , universal equation.

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Department
Management
Course
MGT120H5
Professor
Catherine Seguin
Semester
Winter

Description
MGT120 Lecture 1 UNIVERSAL EQUATION Assets = Liabilities + Owners Equity Things Owned = Creditors + Owners Cash = Loans + Investments ↓ ↓ used to buy: as the business operates Equipment + Revenue Inventory - Expenses Other assets * The things in the columns all relate to each other assets are things owned and cash liabilities consists of the loans which are received from creditors owners equity consists of the owners investments Accounting Info in Decision Making A Business : 1. Own
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