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Capital maintenance approach Change in accounting principal Continuing operations Earnings per share Financial approach Income from Operations Operations Approach Other Gains and revenue Prior period

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Capital maintenance approach Change in accounting principal Continuing operations Earnings per share Financial approach Income from Operations Operations Approach Other Gains and revenue Prior period adjustments Transaction approach Change in accounting estimate Comprehensive income Discontinued operations Extraordinary item Free Cash Flow Liquidity Other Comprehensive Income Other losses and expenses Solvency Unusual item FILL-in-the-Blank (16 points] 2. In the space provided at the right, write the word or phrase that best fits the definition given. 1. Probable future economic benefits obtained or controlled by an entity. 2. Economic rights or competitive advantages which lack physical substance that are owned or controlled by a firm 3. Obligations expected to be paid through use of current assets. 4. Statement showing results of operations for a firm for a period of time 5. Outflow of cash or other using up of assets or the incurrence of liabilities for the ongoing major or central operations of a firm 6. Statement showing financial position of a firm at a point in time. 7. Statement that shows how a firm gets and pays out money 8. Statement that ties earnings information and other changes in resources to the balance sheet each period

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