Assets Liabilities Equity
"Assets, Liabilities, Equity" - a fundamental financial categorization. Assets: resources owned that hold economic value, such as property, investments, or inventory. Liabilities: debts or obligations owed to others, like loans or accounts payable. Equity: the residual interest in assets after deducting liabilities; reflects ownership and can include capital contributed by owners and retained earnings. Together, they provide a comprehensive view of a company's financial health, representing what it owns, owes, and the value remaining for its owners.