Solved

For Each Description Match It with the Accounting Term It

Question 105

Matching

For each description match it with the accounting term it best describes

Premises:

Responses:

Total measured past growth less the amount distributed to owners

Asset

A measure of assets generated from the products and services sold

Liability

Owed and must be paid in the future

Retained earnings

Amount invested in the firm by its owners

Revenues

Expenses

Equity investment

Premises:

Total measured past growth less the amount distributed to owners

A measure of assets generated from the products and services sold

Owed and must be paid in the future

Amount invested in the firm by its owners

Responses:

Asset

Liability

Retained earnings

Revenues

Expenses

Equity investment

Correct Answer:

Premises:

Responses:

Asset

Liability

Retained earnings

Revenues

Expenses

Equity investment

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