Matching
Match each definition to its term
Premises:
Amount received from selling products and services
Those happenings that affect an entity's accounting equation and can be reliably measured
Area of accounting aimed at serving external users
Costs of assets or services used to earn revenues
The uncertainty about the expected return to be earned
Defining the idea, goals and actions of an organization
A financial ratio useful in evaluating management, analyzing and forecasting profits and planning activities
Area of accounting aimed at serving the decision making needs of internal users
Creditor's claims on a company's assets
The excess of revenue over expenses
Responses:
Risk
Managerial accounting
Return on Assets
Liabilities
Expenses
Planning
Financial accounting
Net income
Events
Revenues
Correct Answer:
Premises:
Responses:
Amount received from selling products and services
Those happenings that affect an entity's accounting equation and can be reliably measured
Area of accounting aimed at serving external users
Costs of assets or services used to earn revenues
The uncertainty about the expected return to be earned
Defining the idea, goals and actions of an organization
A financial ratio useful in evaluating management, analyzing and forecasting profits and planning activities
Area of accounting aimed at serving the decision making needs of internal users
Creditor's claims on a company's assets
The excess of revenue over expenses
Premises:
Amount received from selling products and services
Those happenings that affect an entity's accounting equation and can be reliably measured
Area of accounting aimed at serving external users
Costs of assets or services used to earn revenues
The uncertainty about the expected return to be earned
Defining the idea, goals and actions of an organization
A financial ratio useful in evaluating management, analyzing and forecasting profits and planning activities
Area of accounting aimed at serving the decision making needs of internal users
Creditor's claims on a company's assets
The excess of revenue over expenses
Responses:
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