Accounting Word Scramble
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Question | Answer |
Asset | Resources owned by a company. |
Liabilities | Amounts owed to creditors. |
Stockholder's Equity | Owner's claim to resources. |
Accounting Equation | The 3 measurement categories: Asset = Liabilities + Stockholder's Equity |
Revenues | Amounts earned from selling products or services to customers. |
Expenses | The costs of providing products and services. |
Net Income | The difference between revenues and expenses. |
Dividens | If the corporation has positive net income, it typically will distribute to its owners, the stockholders, some of those profits in form of a cash payment. |
Created by:
Penningtonj
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