Answer:
1. Obligation to transfer cash or other resources as a result of a past transaction.
Liability
2. Dividends paid by a corporation to its shareholders.
distribution to owners
3. Inflow of an asset from providing a good or service.
Revenue
4. The financial position of a company.
assets, liabilities, and owner's equity. BALANCE SHEET
5. Increase in equity during a period from no owner transactions
comprehensive income
.6. Increase in equity from peripheral or incidental transaction
Gain
7. Sale of an asset used in the operations of a business for less than the asset%u2019s book value.
Loss
8. The owners%u2019 residual interest in the assets of a company.
equity
9. An item owned by the company representing probable future benefits.
Assets
10. Revenues plus gains less expenses and losses
net income
.11. An owner%u2019s contribution of cash to a corporation in exchange for ownership shares of stock
investment by owner
.12. Outflow of an asset related to the production of revenue.
expense
Explanation:
1. Liability is an obligation to,or something that you owe somebody else
2. distribution to owners
is a payment of the retained earnings of a business to its owners
3. Revenue is the income generated from normal business operations
4. Financial position is the current balances of the recorded assets, liabilities, and equity of an organization.
5.comprehensive income is the variation in a company's net assets from non-owner sources during a specific period
6.gain
7. Loss
8.equity
9. Assets
10. net income
11.investment by owner
12.expense
