BA110 Unit 1 Terminology 1. Public accountants 2. Liabilities Net loss 4. Partnership Stock Sole proprietorship 7. Net income Auditing Accounting 10 Managerial accounting 1. Expense 12. Accounts receivable u Break even 14 Entity is Certified public accountant (CPA) 16 Equity 17 Assets IR Accounts payable Revenue Creditor 21. Income statement 22. Governmental accounting 23. Financial statements 24. Withdrawals 2. Balance sheet