What are revenue, deficit, fiscal, assets, liability, liquidity, debentures, shares, and equity? Describe in brief

Revenue- The term revenue refers to the income earned by the business entity through its different activities like sale of products and services.

Deficit-Deficit refers to the amount which is less than the required amount. A deficit occurs when the liabilities are more than assets or expenditures are more than income or imports are more than exports.

Fiscal- The term fiscal is used to describe government money or public money. For example- taxes, government expenditure.

Assets- An asset refers to the resource that contains the monetary value own and controlled by the individual or a company with the objective of profit in future. The assets help the company in enhancing the value or benefit of the company.

Liability- The liability refers to the obligation that one company or individual owe to the other company or individual. Liability is the monetary debts occurs during the business operations.

Liquidity- Liquidity refers to the degree of possibility to convert the assets and securities of the company in the form of cash.

Debentures- The debentures refer to the long term instrument of debt issued to the public to borrow money from them at the fixed interest rate.

Shares-The shares refer to the unit of holding that contributes to the capital of the company. The holder of the share is entitled to share the company?s profit and loss, depending on the number of shares purchased.

Equity- Equity refers to the ownership of the assets that have debts and liabilities associated to them. For accounting purpose the equity is measured by deducting the liabilities from the asset value.