Match the descriptions with the correct concept Amounts owed to the business by its customers Represent probable future benefits. Sometimes called the profit and loss statement, reports the profitability of business operations for a specific period of time. Represent the decrease in assets (or increase in liabilities) as a result of efforts made to produce revenues. Most businesses recognize it when earned, even if cash has not yet been received. Is the amount by which business assets exceed the business liabilities. The financial statement which shows a firm's assets, liabilities, and owner's equity as of a specific date is called the Is an unwritten promise to pay a supplier for assets purchased or services received. Choose... Choose... Choose... Choose... Choose... Choose... Choose... Choose... ( O ( O