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​Match the Accounting Terminology with Its Definition and Example

Question 53

Multiple Choice

​Match the accounting terminology with its definition and example.Note: Answers may be used more than once.
-​A business owned by one person,who is often the manager/operator of the business;the owner's net worth or equity (which consists of the amount by which the fair market value of all assets exceed liabilities)


A) accounts payable
B) ​assets
C) ​corporation
D) ​cost
E) ​economic entity assumption
F) ​liabilities
G) ​market value
H) ​monetary unit assumption
I) ​note payable
J) ​(paid-in) capital
K) ​partnership
L) ​proprietorship
M) ​retained earnings
N) stockholders' equity

Correct Answer:

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