Balance Sheet

Liability

• Something that is legally owned by a person or company

• A list of all employees and their wages

• The balance of cash receipts minus cash payments over a given period of time

• An obligation to settle a debt; money owed to someone

Balance sheet

• This word has 2 meanings: "stock (shares)" and "net worth"

• Money that is spent to purchase goods or services provided by someone else

• A detailed summary of a person's or a company's financial condition at a specific point in time, taking into account their assets, liabilities, etc.

• A list of all employees and their wages