Review the meaning of the following concepts or terms introduced in this chapter:

a Financial accounting.

b Managerial accounting.

c Generally accepted accounting principles.

d Balance sheet.

e Assets.

f Liabilities.

g Stockholders’ equity.

h Retained earnings.

i Income, earnings, profit.

j Net loss.

k Revenue.

l Expense.

m Working capital.
n Stocks and flows.
o Articulate.
p Unqualified opinion.
q Qualified opinion.
r Adverse opinion.
s SEC.
t FASB.
u CPA;
v OBBTCASB.