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Financial Accounting – BUSN 127
Chapter 1 (Financial Statements and Business Decisions)
Book - Financial Accounting – 10th edition – McGraw-Hill Education
...
SEC

J
...


2
...
An examination of the financial
reports to ensure that they
represent what they claim and
conform with generally accepted
accounting principles
...
Sole proprietorship

H
...


4
...
An incorporated entity that
issues shares of stock as evidence
of ownership
...
Accounting

A
...


6
...
The organization for which
financial data are to be collected
(separate and distinct from its
owners)
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Audit report

I
...


8
...
A company with stock that can
be bought and sold by investors on
established stock exchanges
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Partnership

C
...


10
...
Financial Accounting
Standards Board
...
CPA

G
...


12
...
Measurement of information
about an entity in terms of the
dollar or other national monetary
unit
...
GAAP

M
...


E1-2: Matching Financial Statement Items to
Financial Statement Categories

1
...
A

Cash and cash
equivalents

3
...
L

Debt due within
one year

5
...
SE

Retained earnings

7
...
E

Selling, general, and
administrative
expense

9
...
L

Accounts payable

11
...
A

Property, plant, and
equipment

13
...
A

Inventories

15
...
L

Bank loans

2
...
L

Accounts payable

4
...
SE

Retained earnings

6
...
A

Accounts receivable

8
...
E

Product cost of goods sold

10
...
R

Net product sales

12
...
A

Trademarks

14
...
A

Land

16
...
E

Rental and royalty costs

18
...
Show
computations
...
I

Purchases of property, plant, and equipment

2
...
F

Cash paid for dividends to stockholders

4
...
O

Income taxes paid

6
...
I

Cash proceeds received from sale of investment in another company

8

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