Match the Terms with the Definitions

Multiple Choice

Match the terms with the definitions.

-An unwritten promise to pay a supplier for assets purchased or services rendered.

A) account
B) accounts payable
C) accounts receivable
D) accounting equation
E) assets
F) balance sheet
G) business entity
H) business entity concept
I) business transaction
J) drawing
K) expenses
L) income statement
M) liability
N) net income
O) net loss
P) notes payable
Q) owner's equity
R) revenues
S) statement of owner's equity