Speaking

4. Work in groups. Give definitions to key accounting terms:

Use the Exxon Mobil Corporation's balance sheet to help you out.

Current asset

Accounts receivable

Deferred income

Fixed asset

Accounts payable

Contingencies

Intangible asset

Dividends payable

Controlling interests

Current liability

Accrued liabilities

Shareholder`s equity

Fixed liability

Note

Retained earnings