For each of the following description choose the correct terms:

(a)		A company that raises money by issuing shares		select a correct term AssetsPrepaid ExpenseCreditorExpensesAccounts ReceivableCorporationUnearned RevenueProfitInternational Financial Reporting Standards (IFRS)Owner's EquityGenerally Accepted Accounting Principles (GAAP)Accounts Payable
(b)		An accepted set of accounting standards that includes broad principles, procedures, and concepts		select a correct term CreditorUnearned RevenueProfitOwner's EquityCorporationInternational Financial Reporting Standards (IFRS)Accounts PayableGenerally Accepted Accounting Principles (GAAP)ExpensesPrepaid ExpenseAssetsAccounts Receivable
(c)		Obligations to suppliers of goods		select a correct term AssetsAccounts PayableOwner's EquityExpensesGenerally Accepted Accounting Principles (GAAP)Prepaid ExpenseCreditorAccounts ReceivableCorporationProfitUnearned RevenueInternational Financial Reporting Standards (IFRS)
(d)		Amounts due from customers		select a correct term ExpensesAssetsGenerally Accepted Accounting Principles (GAAP)Unearned RevenueCreditorOwner's EquityProfitInternational Financial Reporting Standards (IFRS)Accounts PayablePrepaid ExpenseCorporationAccounts Receivable
(e)		Owner's claims against the residual company's resources		select a correct term Accounts ReceivableGenerally Accepted Accounting Principles (GAAP)Owner's EquityInternational Financial Reporting Standards (IFRS)ProfitUnearned RevenueAccounts PayableCorporationCreditorAssetsExpensesPrepaid Expense
(f)		Payment of cash for costs incurred in advance of being used		select a correct term Prepaid ExpenseAccounts PayableAssetsAccounts ReceivableExpensesUnearned RevenueCreditorOwner's EquityInternational Financial Reporting Standards (IFRS)ProfitGenerally Accepted Accounting Principles (GAAP)Corporation
(g)		A party that a company owes money to		select a correct term CreditorPrepaid ExpenseOwner's EquityAccounts PayableExpensesCorporationAssetsUnearned RevenueGenerally Accepted Accounting Principles (GAAP)ProfitInternational Financial Reporting Standards (IFRS)Accounts Receivable
(h)		Resources owned by a business that have the potential to provide economic benefit		select a correct term CreditorCorporationGenerally Accepted Accounting Principles (GAAP)Owner's EquityAssetsInternational Financial Reporting Standards (IFRS)Unearned RevenueAccounts ReceivablePrepaid ExpenseExpensesAccounts PayableProfit
(i)		The set of accounting standards that all publicly traded enterprises in Canada must follow		select a correct term Owner's EquityCreditorCorporationGenerally Accepted Accounting Principles (GAAP)Accounts ReceivablePrepaid ExpenseInternational Financial Reporting Standards (IFRS)ProfitAssetsExpensesUnearned RevenueAccounts Payable
(j)		Results when revenues exceed expenses		select a correct term Accounts ReceivableGenerally Accepted Accounting Principles (GAAP)Unearned RevenueCreditorAccounts PayableAssetsPrepaid ExpenseOwner's EquityCorporationProfitInternational Financial Reporting Standards (IFRS)Expenses
(k)		The cost of assets consumed or services used in a company's ordinary business activities		select a correct term Generally Accepted Accounting Principles (GAAP)CreditorProfitPrepaid ExpenseAssetsUnearned RevenueOwner's EquityAccounts ReceivableInternational Financial Reporting Standards (IFRS)CorporationExpensesAccounts Payable
(l)		A liability arising when a customer pays in advance of receiving service		select a correct term