Problem 1-30A (Static) Matching key terms with definitions LO 1-3\ Required:\ Match the appropriate terms with the definitions.\ \\\\table[[Definition,Ter],[1. The economic benefit (increase in assets) gained by providing goods or services to customers.,],[2. Investors who purchase common stock.,Stockholders],[\\\\table[[3. The economic sacrifice (decrease in assets) incurred in the process of providing goods or],[services to customers.]],Net Incom],[4. Created when a company borrows money from a bank,Net Loss],[5. Assets minus liabilities and retained earnings.,Operating],[6. Occurs when expenses exceed revenues during the year.,Operating],[7. Individuals or institutions that have loaned goods or services to a business.,Retained E],[8. Complete set of accounts used in accounting systems.,Revenue],[9. Occurs when revenue exceeds expenses during the year,],[10. Assets minus liabilities.,Retair],[11. The section of the statement of cash flows that reflects cash paid for expenses.,],[12. The section of the statement of cash flows that reflects cash collected from the issue of stock.,],[\\\\table[[13. The section of the statement of cash flows that reflects cash paid to purchase land.],[14. The item shown on the statement of changes in steckholection]],],[\\\\table[[14. The item shown on the statement of changes in stockholders' equity that represents a transfer],[of wealth from a business to its owners.],[15. Equal to liabilities plus stockholders' equity]],],[\\\\table[[15. Equal to liabilities plus stockholders' equity.],[16. A stockholders' equity account that contains the amount]],7],[\\\\table[[16. A stockholders' equity account that contains the amount of net income earned minus],[dividends paid since the inception of the business.]],]]

Problem 1-30A (Static) Matching key terms with definitions LO 1-3 Required: Match the appropriate terms with the definitions