F. Matching

Instructions: Match each of the statements below with its proper term. Some terms may not be used.

A. deficiency

G. statement of members' equity

B. limited liability company

H. statement of partnership equity

C. liquidation

I. statements of stockholders' equity

D. partnership

E. partnership agreement

F. realization

1. A summary of the changes in each partner's capital of a partnership that have occurred during a

specific period of time.

2. A business form consisting of one or more persons or entities filing an operating agreement with a

state to conduct business with limited liability to the owners, yet treated as a partnership for tax purposes.

3. The formal written contract creating a partnership.

4. The debit balance in the owner's equity account of a partner.

5. The sale of assets when a partnership is being liquidated.

6. A summary of the changes in each member's equity of a limited liability company that have occurred

during a specific period of time.

7. The winding-up process when a partnership goes out of business.