Classified in Economy

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Active: are all resouses that merchant business: money (cash or bank) its all that can converted into money. Active Accounts: debit(start,increase) credit: (decrease,close).Active are classified: Current active, Prepaid,Fixed active and Others. Prepaid: are those payments made in advance and become an expense as thy mature. ejm: salaries paid in advance.

Passive: is set of debit and conmmitments, short and long turn anumed with creditors or individual during the course of operations creditors are stranger to the business. Passive Accounts: debit(decrease and close. credit (start and increase). Passive are classified: Current passive, Uneramed income, Long term passive and Others. Unearned income: is incame received in advance and therefore it owed the company. ejm: rent recived in advance
Capital: Is the mathematical difference between active and passive. In this section describes the contribution made for the business owner. Capital ccount: debit(decreased and close) credit(begin and increase). 
Fundamental accounting equation: is the formula that summarizes the content of the balance sheet.

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