Illinois Compiled Statutes 220 ILCS 5/5-103 – Such systems of accounts shall provide for forms showing all sources …
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Terms Used In Illinois Compiled Statutes 220 ILCS 5/5-103
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Such systems of accounts shall provide for forms showing all sources of incomes, the amounts due and received from each source and the amounts expended and due for each purpose, distinguishing clearly all payments for operating expenses from those for new construction, extensions and additions and for balance sheets showing assets and liabilities and various forms of proprietary interest.