provided.

Term

$$

$$

$$

$$

$$

$$

$$

$$

Definition

Relevance

Faithful Representation

Expenses

Separate Entity

Assets

Liabilities

Stockholders' Equity

Revenues

A$.$ The financial reports of a business are assumed to include the results of only that business's activities.

B$.$ The resources owned by a business.

C$.$ Financial information that depicts the economic substance of business activities.

D$.$ The total amounts invested and reinvested in the business by its owners.

E$.$ The costs of business necessary to earn revenues.

F$.$ A feature of financial information that allows it to influence a decision.

G$.$ Earned by selling goods or services to customers.

H$.$ The amounts owed by a business

M$1-4$ Matching Financial Statejnent Items to Balance Sheet and Income Statement

M$1-3$ Matching Definitions with Terms

Match each definition with its related term by entering the appropriate letter in the space provided.

Term

$q,$ Relevance

$$ Faithful Representation

$q,$ Expenses

$q,$ Separate Entity

$q,$ Assets

$q,$ Liabilities

$q,$ Stockholders' Equity

$q,$ Revenues

Definition

A$.$ The financial reports of a business are assumed to include the results of only that business's activities.

B$.$ The resources owned by a business.

C$.$ Financial information that depicts the economic substance of business activities.

D$.$ The total amounts invested and reinvested in the business by its owners.

E$.$ The costs of business necessary to earn revenues.

F$.$ A feature of financial information that allows it to influence a decision.

G$.$ Earned by selling goods or services to customers.

H$.$ The amounts owed by a business

M$1-4$ Matching Financial Statement Items to Balance Sheet and Income Statement Categories