Question

Match the word or phrase with the best description of it. a. select the correct word or phrase An expression about whether financial statements conform with generally accepted accounting principles. b. select the correct word or phrase A business that raises money by issuing shares of stock. c. select the correct word or phrase The portion of stockholders’ equity that results from receiving cash from investors. d. select the correct word or phrase Obligations to suppliers of goods. e. select the correct word or phrase Amounts due from customers. f. select the correct word or phrase A party to whom a business owes money. g. select the correct word or phrase A party that invests in common stock. h. select the correct word or phrase A business that is owned jointly by two or more individuals but does not issue stock.

Answer 1

Answer Explanation

An expression about whether financial statements conform with generally accepted accounting principles

Audition. If the statement had been done conformed to GAAP it will be a positive audit.

business that raises money by issuing shares of stock:

Corporation, raise fund from issuance of stock

The portion of stockholders’ equity that results from receiving cash from investors

Capital or total paid-in capital

Obligations to suppliers of goods

Account Payable is the liability account to represent thedebt with suppliers

Amounts due from customers

Account receivable represent the amount to collect from customer

A party to whom a business owes money

It is a debtor to the company and will be state under:

Account Receivable or Note receivable accounts

A business that is owned jointly by two or more individuals but does not issue stock.

partnership are integrate by more than one party