Consider the folowing accounting terms and definitions and match each term to the definition Click the icon to view the definitions) est Term Definition 1. Accounting equation 2. Asset 3. Balance sheet 4 Expense 5. Income statement Liability Net Income 8 Netloss 3. Revenue 10. Statement of cash flows jestio More Info - X me following he icon to a. b. unting egy et nce sheet ense e. An economic resource that is expected to be of benefit in the future Debts that are owed to creditors C. Excess of total expenses over total revenues: d. Excess of total revenues over total expenses The basic tool of accounting, stated as Assets = Liabilities + Equity Decreases in equity that occur in the course of selling goods or services 9. Increases in equity that occur in the course of selling goods or services h. Reports on a business's cash receipts and cash payments during a period Reports on an entity's assets. liabilities, and owner's equity as of a specific date 1 Reports on an entity's revenues, expenses and net income or loss for the period k Reports how the owner's capital balance changed from the beginning to the end of the period f. me stateme ility income loss i. conue tement of ca om any drop Print Done shsin