The balance sheet is one of the financial statements made by accountants. Following are the terms that are included in the balance sheet of each business: 1. Account Payable – Unpaid expense 2. Account Receivable – Un received payments 3. Assets – Any monetary thing owned by the company 4. Equity – Value Of Asset Minus Liabilities 5. Liability – Debts of the company 6. Inventory – Remaining unsold asset purchases to sell. Follow <a href="https://www.facebook.com/frankliniogele/">Franklin I. Ogele</a> for more upcoming informative posts.