Match the word or phrase with the best description of it. ;An expression about whether financial
statements conform with generally accepted accounting principles A business that raises money
by issuing shares of stock. The portion of stockholders\' equity that results from receiving cash
from investors. Obligations to suppliers of goods. Amounts due from customers A party to whom
a business owes money. A party that invests in common stock. A business that is owned jointly
by two or more individuals but does not issue stock.
Solution
(a) Auditor\'s opinion - An expression about whether financial statements conform with
generally accepted accounting principles.
(b) Corporation or company- A business that raises money by issuing shares of stock
(c) Common stock- The portion of stockholders’ equity that results from receiving cash from
investors.
(d) Account payable- Obligations to suppliers of goods.
(e) Account receivable-Amounts due from customers.
(f) Creditor-A party to whom a business owes money.
(g) Stockholder or shareholder- A party that invests in common stock.
(h) Partnership-A business that is owned jointly by two or more individuals but does not issue
stock..
Match the word or phrase with the best description of it. ;An express.pdf
1. Match the word or phrase with the best description of it. ;An expression about whether financial
statements conform with generally accepted accounting principles A business that raises money
by issuing shares of stock. The portion of stockholders' equity that results from receiving cash
from investors. Obligations to suppliers of goods. Amounts due from customers A party to whom
a business owes money. A party that invests in common stock. A business that is owned jointly
by two or more individuals but does not issue stock.
Solution
(a) Auditor's opinion - An expression about whether financial statements conform with
generally accepted accounting principles.
(b) Corporation or company- A business that raises money by issuing shares of stock
(c) Common stock- The portion of stockholders’ equity that results from receiving cash from
investors.
(d) Account payable- Obligations to suppliers of goods.
(e) Account receivable-Amounts due from customers.
(f) Creditor-A party to whom a business owes money.
(g) Stockholder or shareholder- A party that invests in common stock.
(h) Partnership-A business that is owned jointly by two or more individuals but does not issue
stock.
