Choose the appropriate definition for the terms below.
a.a business owned by a single owner
b.a statement summarizing the revenues and expenses for a given period
c.resources that provide future economic benefits to a business
d.claims by outsiders on the resources of a business
e.revenues less expenses
f.a business owned by shareholders
g.shows the net change in the cash account for a given period
h.a formal listing of the accounting equation on a specified date

Question

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The Answer of Choose the appropriate definition for the terms below.
a.a business owned by a single owner
b.a statement summarizing the revenues and expenses for a given period
c.resources that provide future economic benefits to a business
d.claims by outsiders on the resources of a business
e.revenues less expenses
f.a business owned by shareholders
g.shows the net change in the cash account for a given period
h.a formal listing of the accounting equation on a specified date

Choose the Appropriate Definition for the Terms Below