Chapter 5 assignments and solutions

Chapter 5 assignments and solutions - CHAPTER 5 HOMEWORK -...

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CHAPTER 5 HOMEWORK - SOLUTIONS Ex. 5-108 —Terminology. In the space provided at right, write the word or phrase that is defined or indicated. 1. Obligations expected to be liquidated 1.____________________________________ through use of current assets. 2. Statement showing financial condition at a 2.____________________________________ point in time. 3. Events that depend upon future outcomes. 3.____________________________________ 4. Probable future sacrifices of economic 4.____________________________________ benefits. 5. Resources expected to be converted to 5.____________________________________ cash in one year or the operating cycle, whichever is longer. 6. Resources of a durable nature used in 6.____________________________________ operations. 7. Economic rights or competitive advantages 7.____________________________________ which lack physical substance. 8. Probable future economic benefits. 8.____________________________________ 9. Residual interest in the net assets of an 9.____________________________________ entity. Solution 5-108
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This note was uploaded on 11/17/2010 for the course ACC ACC 305 taught by Professor Rogero during the Spring '10 term at University of Dayton.

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Chapter 5 assignments and solutions - CHAPTER 5 HOMEWORK -...

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