2 [10 points] Choose the term that best matches each of the following descriptions: a) select answer People who do not pa select answer b) Accounting The ability to make a Accounting Standards for Private Enterprises (ASPE) Accounting equation c) Accounts payable Accounts receivable d) Assets e) Balance sheet, or statement of financial position Board of Directors Business organization Canadian Accounting Standards Board (ACSB) f) Cash Common shares g) Comparability The assets that have B Represents the net ass Others are able to conf The process of identifyin Provides information abc Corporation Creditor h) Debt Dividends i) Equity Ethics j) select answer Official Time: 17:30:00 nformation that is availab ems such as sales invoic A group of individuals who Assignme Name: Danish Date: 2022-05- Question 2 [10 points] Choose the term that best matches each of the following description a) select answer b) Emics Expenses Faithful representation Financial accounting c) Financial statements Financial transaction d) Financing activities Fiscal year Generally Accepted Accounting Principles (GAAP) e) Income statement Interim financial statements f) Internal users International Accounting Standards Board (ASB) Investing activities g) Issuing shares Liability h) Limited liability Managerial accounting i) Natural year Net income or profit select answer Official Time: 17:30:22 People who do n The ability to ma The assets that ha Represents the ne Dthers are able to he process of iden Provides information Information that is a ems such as sales i A group of individuals " TH B-1080 110 Echapp .E Q W E Assignment Name: Danishveer sin Date: 2022-05-25 Question 2 [10 points] Choose the term that best matches each of the following descriptions: a) select answer b) Net income or profit Net loss Non-business organization Operating activities c) Organization Partnership d) Prepaid expenses e) Private enterprise (PE) Proprietorship Publicly accountable enterprise (PAE) Relevance f) Retained eamings Revenues g) Share capital Shareholder Shares h) Source documents Statement of cash flows (SCF) i) Statement of changes in equity Timeliness j) select answer Official Time: 17:30:39 PR AB-1080- O .c People who do not pam The ability to make a d The assets that have b Represents the net ass Others are able to confi he process of identifyin Provides information abo Information that is availa ems such as sales invoic A group of individuals who e W E Name: Danishveer Date: 2022-05-25 People who do not p The ability to make a The assets that have Represents the net as Question 2 [10 points] Choose the term that best matches each of the following descriptions: a) select answer Partnershp Prepaid expenses b) Private enterprise (PE) Proprietorship c) Publicly accountable enterprise (PAE) Relevance d) Retained eamings Revenues Share capital e) Shareholder Shares f) Source documents Statement of cash flows (SCF) g) Statement of changes in equity h) Timeliness Understandability Uneamed revenue Unlimded liability i) Venflability Year-end select answer Official Time: 17:30:47 Others are able to con he process of identify Provides information a Information that is avail ems such as sales invc A group of individuals wh " H HB-1080 # 1 4 02 +1 O 221 E W LL 14 LLJ E SAP 2 Assignment 1 (Question 2) Name Danveer singh Date: 2022-05-25 Question 2 [10 points] Choose the ferm that best matches each of the following descriptions a) select answer b) select answer c) sect answer d) et answer e) select answer f) oct answe g) solod an h) select answer select answer sot answer Official Time: 17:31.03 People who do not participate in the day-to-day management of the corporation but delegates this responsibility to the officers of the corporation The ability to make a difference in the decision-making process The assets that have been used up of the obligations incurred in the course of earning revenues Represents the net assets owned by the shareholders Others are able to confirm that the information faintly represents the economic activities of the bes The process of identifying, measuring recording, and communicating an organization's economic activities to users Provides information about how the balances in Share capital and Retained eanings changed during the period Information that is available to decision makers in time to be useful Items such as sales invoices and bills from creditors that contain information about economic events A group of individuals who come together to pursue a common set of gouls and objectiv SUBMIT AND MARK SAVE AND CLOSE 90