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1. Assets- The resources of a form which must meet the three conditions where it must result from a past transaction or event, provide economic benefits, and the firm controls access to them. 2. Liabilities- Represents the debts owed to lenders as a result of firm transactions or loans. 3. Financial Accounting- Reporting of the financial position and performance of a firm through financial statements issued to external users on a periodic basis. 4. Debt-An amount of money borrowed by one party from another. Many corporations/individuals use debt as a method for making large purchases that they could not afford under normal circumstances. 5. Balance Sheet- A depiction of the accounting equation at a single point in time with assets, liabilities, and owner’s equity. 6. Income Statement- Provides a “report card” for the firm over a given period of time. It shows the difference between revenues and expenses. 7. Contractual Rights- Is a claim, on other persons, that is acknowledged and perhaps reciprocated among the principals associated with that claim. 8. Intangible Assets- An asset that is not physical in nature. Corporate intellectual property (items such as patents, trademarks, copyrights, business methodologies), goodwill and brand recognition are all common intangible assets in today's marketplace. 9. Current Liability- A company's debts or obligation due within one year. Current liabilities appear on the company's balance sheet and include short term debt, accounts payable, accrued liabilities and other debts 10. Long-term Liability- Are company obligations that extend beyond the current year, or alternately, beyond the current operating cycle. 11. Finance- he science that describes the management, creation and study of money, banking, credit, investments, assets and liabilities. 12. Present Value- Begins with an amount of money in the future and tells how much it is worth today. 13. Future Value- Represents how much an amount of money deposited today will be worth if compounded at a given interest rate for one or more periods. 14. Interest- The charge for the privilege of borrowing money, typically expressed as an annual percentage rate or the amount of ownership a stockholder has in a company, usually expressed as a percentage. 15. Interest Rate- The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. 16. Annuity- Is a fixed sum paid or received at uniform intervals over a period of time. 17. Inflation- The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. 18. Risk- The possibility that shareholders will lose money when they invest in a company that has debt, if the company's cash flow proves inadequate to meet its financial obligations. 19. Return- In securities, the amount of revenue an investment generates over a given period of time as a percentage of the amount of capital invested.

its current market value or its face value. Emerging Market. This refers to the interest or dividends received from a security and is usually expressed annually as a percentage based on the investment's cost. Owner’s Equity. Yield. 21.20.The income return on an investment. 23.Are nations with social or business activity in the process of rapid growth and industrialization. . Depreciation.Reflects the loss in usefulness of a firm’s assets over time. 22.Represents the monetary input to the firm provided by its owners.