unit_01_key - Solutions to Suggested Exercises & Problems...

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E1–1. Term or Abbreviation Definition K G I E A D J F C L H B N M (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) SEC Audit Sole proprietorship Corporation Accounting Accounting entity Audit report Cost principle Partnership FASB CPA Unit of measure GAAP Publicly traded A. A system that collects and processes financial information about an organization and reports that information to decision makers. B. Measurement of information about an entity in the monetary unit–dollars or other national currency. C. An unincorporated business owned by two or more persons. D. The organization for which financial data are to be collected (separate and distinct from its owners). E. An incorporated entity that issues shares of stock as evidence of ownership. F. Initial recording of financial statement elements at acquisition cost. G. An examination of the financial reports to assure that they represent what they claim and conform with generally accepted accounting principles. H. Certified Public Accountant. I.
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This note was uploaded on 09/27/2010 for the course ACTG 100 taught by Professor Ortiz during the Fall '09 term at Skyline College.

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unit_01_key - Solutions to Suggested Exercises & Problems...

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