Question

Which of the following expression IS NOT on the list of commonly used financial terms?
Equity
Balance
Net income
Liability

Answer 1

All of the terms you've listed—Equity, Balance, Net income, and Liability—are commonly used financial terms. However, if you are looking for one that might be less universally used in a financial context, "Balance" could be considered somewhat vague compared to the specific meanings of the others. It is often used in phrases like "balance sheet" or "balance of accounts" but does not stand alone as a defined financial term as clearly as the others.