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Below is a summary of the terms and concepts you will need to know to be successful on the quiz. You should consider making a three-column study note. Put the term/concept in the first column, add a second column for definition/explanation, and a final column for a specific and relevant example. Good luck! Corporation Sole Proprietorship Partnership Fiscal period Fundamental accounting equation (all formats) CPA Ontario Assets Liabilities Owner's equity (and all interchangeable terms) GAAPS GAAP principal: Going Concern Concept GAAP principal: Cost principle GAAP principal: Objectivity Principle GAAP assumption: Going Concern GAAP assumption: Monetary Unit GAAP assumption: Economic Entity GAAP assumption: Time period assumption Accounting Ethical Dilemma Users of accounting information Limited Liability Legal Entity Dividend Shares