Match the accounting terminology with its definition and example.Note: Answers may be used more than once.
-Personal living expenses are kept separate from the expenses of the business
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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