Matching terms

Match the following terms with the definitions or statements listed below. Indicate your answers in the spaces provided. (Two points per answer) a. Account g. Expenses b. Accounts payable h. Income statement c. Accounts receivable i. Net income d. Balance sheet j. Revenue e. Corporation k. Partnership f. Debit 1. Sole proprietorship Answer 1. A business owned by stockholders. 2. Costs incurred in running a business. 3. When revenue is larger than expenses. 4. The left-hand side of an account. 5. A device to record increases and decreases from business transactions. 6. A statement as of a particular date that shows the amount of assets, liabilities, and capital. 7. Amounts owed to creditors appears in A statement that details the performance of a business for a specific period of time. An amount earned by performing services for customers or selling goods to customers. 10. A business with one owner. 8. 9