Date: Class: Name: Matching the list that each statement best For each statement provided, choose the letter of the appropriate term from describes Some terms may be used more than once, while others are not us i. Cost principle j. Creditor k Liability L. Revenue m. Going concern n. Monetary unit o. Corporation a. Capital stock b. Asset Owners' equity d. Time period e. Dividends f Economic entity concept s. Expense h. Retained earnings 1. The portion of owner's equity that represents the net income less any dividends paid over the life of the entity. 2. The owners' claims on the assets of an entity 3. A distribution of the net income of a business to its owners 4. The sale of goods or the performance of services 5. A category on the balance sheet to indicate the owners' direct investment in a corporation. 6. The cost of doing business that results from the process of generating revenues. 7. A future benefit. 8. An artificial segment on the calendar used as a basis for preparing financial statements. 9. The assumption that an entity is not in the process of liquidation and that it will continue indefinitely. 0. The principle or rule that specifies the amount recorded for an asset upon acquisition. 11. An entity that lends a company money with the expectation of repayment 12. Claims of the creditors against the assets of a company. cemsanvati sm Consuo 68 Statement Income Sraste menct