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Unformatted text preview: given period. Distributions to owners- Decrease of net assets that go to directly to owners in exchange for their owner interests (or equity) in an enterprise. 2-9. Revenues- Increase of assets by providing goods or services. Gains- Increase of assets through transactions during a given period. Investments by owners- Increase of assets directly from owners in exchange for interests in a company. E2-3. Assets- (f) Liabilities- (b) Equity- (i) Investment by owners- (c) Distributions to owners- (k) Comprehensive income- (l) (e) Revenues- (j) Expenses- (h) Gains- (g) (a) Losses- (a) E2-4. Economic entity assumption- (f) Going concern assumption- (d) Monetary unit assumption- (j) Periodicity assumption- (g) Historical cost principal- (b) Matching principle- (a) Full disclosure principle- (c) Cost-benefit relationship- (e) Materiality- (i) Industry Practices- (h) Conservatism- (f)...
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This note was uploaded on 12/07/2009 for the course ACCT 5521 taught by Professor Englese during the Spring '08 term at Fairleigh Dickinson.
- Spring '08
- Decision Making