Match the accounting terminology with its definition and example.Note: Answers may be used more than once.
-Business owned by two or more persons;each person is generally personally liable for the debts of this entity
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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