The owner's claim on the assets of the company is known as owner's equity.
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Q35: GAAP stands for Generally Accepted Accounting Principles.
Q36: A cash flow statement is organized into
Q37: Profit results when a company's expenses are
Q38: An obligation to pay cash to a
Q39: The going concern assumption is the assumption
Q41: Revenues decrease owner's equity and expenses increase
Q42: Which of the following would NOT be
Q43: Sometimes Canadian companies will report their results
Q44: Recognition is the process of recording a
Q45: All of the following are steps used
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