Please briefly define or explain the following terms. (There is no need to write long.)

Define the following terms:

1. Internal rate of return

2. Balance sheet

3. Activity statement

4. Working capital

5. Liquidity

6. Account payable

7. Account receivable

8. Financial accounting

9. Managerial accounting

10. Generally Accepted Accounting Principle

11. Contra account

12. Deferred revenues

13. Write off

Thank you so much.