Matching
Match each of the most appropriate definition with the following terms.
Premises:
The uncertainty about the return to be earned.
Resources such as cash that an owner takes from the company for personal use.
Resources such as cash that an owner puts into the company.
Expresses the relation of assets, liabilities and equity in a company, comparing the resources the company owns to the sources of funds to acquire the resources.
Resources a company owns or controls that are expected to yield future benefit.
Decreases in equity from costs of providing products or services to customers.
Creditor's claims on a company's assets.
A financial ratio stated as income divided by assets invested.
Responses:
Liabilities
Expenses
Accounting equation
Assets
Risk
Return on assets
Owner withdrawals
Owner capital
Correct Answer:
Premises:
Responses:
The uncertainty about the return to be earned.
Resources such as cash that an owner takes from the company for personal use.
Resources such as cash that an owner puts into the company.
Expresses the relation of assets, liabilities and equity in a company, comparing the resources the company owns to the sources of funds to acquire the resources.
Resources a company owns or controls that are expected to yield future benefit.
Decreases in equity from costs of providing products or services to customers.
Creditor's claims on a company's assets.
A financial ratio stated as income divided by assets invested.
Premises:
The uncertainty about the return to be earned.
Resources such as cash that an owner takes from the company for personal use.
Resources such as cash that an owner puts into the company.
Expresses the relation of assets, liabilities and equity in a company, comparing the resources the company owns to the sources of funds to acquire the resources.
Resources a company owns or controls that are expected to yield future benefit.
Decreases in equity from costs of providing products or services to customers.
Creditor's claims on a company's assets.
A financial ratio stated as income divided by assets invested.
Responses:
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