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Accounting (Conveys information to (creditors (party (person, organization…

- - - - equity
        
        equity = assets value - liabilities
        
        owner's equity
      - debt securities
        
        investment in bonds
        
        bonds
        
        formal contract
        
        issuing corporation
        
        pays bondholders
        
        bondholders
        
        2 more items...
        
        issued by
        
        government
        
        corporation
      - real estate
        
        property consisting of
        
        land
        
        buildings
        
        natural resources
        
        crops
        
        mineral
        
        water
        
        profession of ... land, buildings or housing
        
        buying
        
        selling
        
        renting
      - currency
        
        medium of exchange
        
        fundamental function of money
        
        medium
        
        measure
        
        standard
        
        store
        
        banknotes
        
        negotiable promissory note
        
        issued by banks
        
        payable to bearer in demand
        
        known as ...
        
        bill
        
        note
        
        coins
        
        widely accepted token
        
        exchanges
        
        goods
        
        services
        
        avoids limitations of barter
        
        There needs to be a 'double coincidence of wants'
        
        both parties need to have what other wants
        
        There is no common measure of value
        
        may be absent
        
        money plays the role to measure the value
        
        Indivisibility of certain goods
        
        when a buyer wants to buy an indivisible unit of good but only has payment for small unit, a transaction cannot occur
        
        Lack of standards for deferred payments
        
        absence of common measure of value
        
        Difficulty in storing wealth
        
        when society relies exclusively on perishable goods, storing wealth may be impractical
      - commodity
        
        economic good or service that has full or substantial fungibility
        
        fungibility
        
        property of a good
        
        individual units
        
        essentially interchangeable
        
        each parts
        
        indistinguishable from another part
        
        treats instances of goods
        
        equivalent or nearly no regard who produced them
  - - - person
      - organization
      - company
      - government
    - - services
        
        second party
    - - secured
        
        has security or charge
        
        some or all of the company's assets
        
        secures debt owed to the creditor
      - unsecured
  - - - organization
        
        entity
        
        comprising
        
        multiple people
        
        institution
        
        association
        
        each member has a particular purpose
    - - organization
      - business
      - not-for-profit organization
      - government body
    - - strategy of an organization
      - coordinating efforts of its employees
      - to accomplish objectives
        
        using available resources
        
        financial
        
        natural
        
        technological
        
        human resources
  - - - regulatory agency
      - regulatory authority
      - regulatory body
    - - specific type of corporation
      - allow public benefit
        
        charter purpose
    - - appointed commision
      - permanent
      - semi-permanent
      - responsibilities
        
        oversight
        
        administration
    - - department
      - ministry
      - other types
        
        public body established by government
- - - - organization
      - unit in society
    - - The activities of the entity are to be kept separate from the activities of its owner and all other economic entities.