Matching
Match the items below.
Premises:
Activities of an entity must be kept separate from its owner’s activities.
Consumption of assets or services.
Ownership is limited to one person.
Offers expert accounting service to the general public.
Creditor and ownership claims against the assets of the business.
A separate legal entity under state laws.
Government agency that can mandate accounting rules.
Quantifying goals and objectives.
Future economic benefits.
Economic events recorded by accountants.
Responses:
CPA
Budgeting
SEC
Proprietorship
Economic Entity Assumption
Corporation
Assets
Equities
Expenses
Transactions
Correct Answer:
Premises:
Responses:
Activities of an entity must be kept separate from its owner’s activities.
Consumption of assets or services.
Ownership is limited to one person.
Offers expert accounting service to the general public.
Creditor and ownership claims against the assets of the business.
A separate legal entity under state laws.
Government agency that can mandate accounting rules.
Quantifying goals and objectives.
Future economic benefits.
Economic events recorded by accountants.
Premises:
Activities of an entity must be kept separate from its owner’s activities.
Consumption of assets or services.
Ownership is limited to one person.
Offers expert accounting service to the general public.
Creditor and ownership claims against the assets of the business.
A separate legal entity under state laws.
Government agency that can mandate accounting rules.
Quantifying goals and objectives.
Future economic benefits.
Economic events recorded by accountants.
Responses:
Related Questions
Q230: The residual claim on total assets of
Q231: The _ reports the assets liabilities and
Q232: The _ principle states that assets should
Q233: The three major services rendered by a
Q234: At September 1 the balance sheet
Q235: Match the items below by entering the
Q236: The _ assumption requires that the activities
Q237: Designate the terminology that best represents the
Q239: Match the following definitions and terms
Q240: Match the type of decision that user
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents