NURL MembeHOW harorum LODE Alcohol Pano San womens SXSI Match each term with the best partial definition fundamental qualities of useful asset liability equity Choose accumulates the effects of Journaized transactions in the Individual accounts. Increase assets and decrease liabilities. probable future sacrifice of economic benefits arising from a present obligation residual ownership decrease assets and decrease labirities a corporation's own stock which has been reacquired but not retired. Intiows or other enhancements of assets of an entity during a period from activities that constitute the entity's ongoing expenses recognized but not yet paid cash paid for expenses not yet recognized comparability and flexibility writing down an asset to its real value each accounting period. is accomplished by examining ledger accounts and seeing which ones need updating. involves transferring all debits and credits on a journal page to the trial balance. a debt that can reasonably be expected to be paid out of currently recognized revenues. allocating the cost of an asset to expense over its useful life in a rational and systematic manner. identifying, recording and communicating intromation about an entity revenue should be recognized when the performance obligation is satisfied verifiability and timeliness relevance and faithful representation revenue should be recognized when the cash is received stock purchased by a corporation and held as an investment in its treasury. probable future economic benefits obtained or controled by an entity a dobt that can reasonably be expected to be paid within one year or the operating cycle, whichever is fonger revenues recognized but not yet received decrease assets and increase liabilities cash received for revenues not yet recognized revenue deferred revenues accrued expense financial accounting revenue recognition principle Choose posting chal Show accrued expense [Choose] financial accounting [Choose revenue recognition principle [ Choose posting credits depreciation treasury stock [Choose ] accumulates the effects of journalized transactions in the individual accounts. increase assets and decrease liabilities. probable future sacrifice of economic benefits arising from a present obligation residual ownership decrease assets and decrease liabilities. a corporation's own stock which has been reacquired but not retired. inflows or other enhancements of assets of an entity during a period from activities that expenses recognized but not yet paid cash paid for expenses not yet recognized comparability and flexibility writing down an asset to its real value each accounting period. is accomplished by examining ledger accounts and seeing which ones need updating. involves transferring all debits and credits on a journal page to the trial balance. a debt that can reasonably be expected to be paid out of currently recognized revenues allocating the cost of an asset to expense over its useful life in a rational and systematic identifying, recording and communicating infromation about an entity revenue should be recognized when the performance obligation is satisfied verifiability and timeliness relevance and faithful representation revenue should be recognized when the cash is received stock purchased by a corporation and held as an investment in its treasury. probable future economic benefits obtained or controled by an entity a debt that can reasonably be expected to be paid within one year or the operating cycle revenues recognized but not yet received decrease assets and increase liabilities. current liability Question 4
