Listed below are ten terms followed by a list of descriptive phrases.

a.	financial position	f.	operating capability
b.	equity	g.	assets
c.	net income	h.	acquisition cost
d.	liquidity	i.	control
e.	financial flexibility	j.	recognition

____	1.	Process of recording and reporting an element in the financial statements
____	2.	Economic resource
____	3.	Ability of a company to use its financial resources to adapt to change
____	4.	Economic resources, economic obligations, and their relationships at a point in time
____	5.	Amount of time until an asset is converted into cash or a liability is paid
____	6.	The ability to deny or regulate the use of an asset
____	7.	Residual interest of a company
____	8.	Ability of a company to maintain a given physical level of operations
____	9.	Is measured in terms of changes in assets and liabilities
____	10.	Historical cost of an asset

Required: Match each descriptive phrase with the best-related term by placing the appropriate letter in the space provided.