Rochester Corporation holds cash of $2,000 and owes $31,000 on accounts payable. Rochester has accounts receivable of $41,000, nventory of $30,000, and land that cost $50,000. How much are Rochester's total assets and liabilities? Total assets O A. $73,000 OB. $123,000 O C. $123,000 O D. $93,000 Liabilities $81,000 $61,000 $31,000 $61,000 Match the following definitions with one of the terms listed here. (Click the icon to view the list of terms.) Complete the responses for a -i in the first step and then j through r in the next step. Item Definition Term a. b. c. d. e. Total revenues less total expenses Provides information for decision makers outside of the organization Provides information for managers of the organization Responsibilities of the members of society to each other Inflows of resources resulting from delivering goods or services to customers Owned by stockholders whose liability is limited to the amount they have invested f. in the business g. A debt payable to an outsider h. Costs of doing business A business organization form with a single owner who is personally liable for all of i the business's debts j. States that assets should be recorded at their actual cost on the date of purchase k. Mechanical part of accounting I. Also called the statement of financial position m. Economic resources that are expected to produce a benefits in the future Mechanical part of accounting Also called the statement of financial position m. Economic resources that are expected to produce a benefits in the future n. Entities that provide money to finance a company's operations o. Answers the question "How well did the company perform during the period?" p. Reports cash flows from operating, investing, and financing activities A business organization form with two or more owners who are each personally liable for all of thebsiess's debts r. Insider claims of a business Asset Balance sheet Bookkeeping Corporation d Equity Ethical duties Expenses Financial accounting of Historical cost principle Income statement Investors and creditors Liability Managerial accounting Net income Partnership Proprietorship Revenues Statements of cash flows