classwork solutions-ch.1a

classwork solutions-ch.1a - Solutions to mini-exercises...

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Solutions to mini-exercises discussed in lecture: ch. 1 M1-3 Term Definition F I C A B H D G E J (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Relevance Faithful Representation Comparability Separate Entity Assets Liabilities Stockholders’ Equity Revenues Expenses Unit of Measure A. The financial reports of a business are assumed to include the results of only that business’s activities. B. The resources owned by a business. C. Financial information that can be compared across businesses because similar accounting methods have been applied. D. The total amounts invested and reinvested in the business by its owners. E. The costs of business necessary to earn revenues. F. A feature of financial information that allows it to influence a decision. G. Earned by selling goods or services to customers. H. The amounts owed by the business. I. Financial information that depicts the economic substance of business activities. J.
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This note was uploaded on 04/23/2011 for the course BUSINESS 20 taught by Professor Samuelson during the Spring '11 term at UC Riverside.

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classwork solutions-ch.1a - Solutions to mini-exercises...

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