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Choose the Appropriate Letter to Match the Term and the Definition.(There

Question 209

Essay

Choose the appropriate letter to match the term and the definition.(There are more definitions than terms.)
TERM
1._____ Investors
2._____ Audit
3._____ Balance Sheet
4._____ Operating Activities
5._____ Unit of Measure Assumption
6._____ Retained Earnings
7._____ Investing Activities
8._____ Income Statement
DEFINITION
A.An example of an internal user of financial statements.
B.A financial statement showing a company's assets,liabilities and stockholders' equity.
C.When a company acquires money from investors.
D.A financial statement that summarizes a company's past and current cash situation.
E.An example of external users of financial statements.
F.The idea that the financial statements of a company include the results of only that company's business activities.
G.Activities directly related to running the business to earn profit.
H.A financial statement that shows a company's revenues and expenses.
I.Borrowing money from lenders.
J.The total amount of profits that are kept by the company.
K.The idea that a company should report its financial data in the relevant currency.
L.A procedure by which independent evaluators assess the accounting procedures and financial reports of a company.
M.Transactions with lenders (borrowing and repaying cash)and stockholders (selling company stock and paying dividends).

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