Question

View Policies Current Attempt in Progress For each of the following description choose the correct terms: (a) A company that raises money by issuing shares (b) An accepted set of accounting standards that includes broad principles, procedures, and concepts (c) Obligations to suppliers of goods (d) Amounts due from customers le) Owner's claims against the residual company's resources Payment of cash for costs incurred in advance of being used (B) A party that a company owes money to ( Resources owned by a business that have the potential to provide economic benefit The set of accounting standards that all publicly traded enterprises in Canada must follow 0 Results when revenues exceed expenses (k) The cost of assets consumed or services used in a company's ordinary business activities 0 A liability arising when a customer pays in advance of receiving service

Answer 1

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Particulars	Particulars
a)	Corporation
b)	Generally Accepted Accounting Principles (GAAP)
c)	Accounts payable
d)	Accounts receivable
e)	Owners Equity
f)	Prepaid expense
g)	Creditor
h)	Assets
i)	International Financial Reporting standards (IFRS)
j)	Profit
k)	Expenses
l)	Unearned Revenue