03/2021 Choose the correct words from column B to match the Description in column A. only write down the correct letter in column B. 1 The owner and his business are seen as separate A Mortgage bond Money received by the business for rendering a В Tangible assets service or selling stock The owner's interest in his C Current assets business. Capital Money the owner gives to start up a business Profit motive Outsiders to whom the business owes money for stock purchased or bought The primary reason why an Entity rule Entrepreneur start a business. 3. 4- 5.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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06/03/2021
Choose the correct words from column B to match the Description in column A. only write down
the correct letter in column B.
1
The owner and his business
are seen as separate
Mortgage bond
Money received by the
business for rendering a
Tangible assets
service or selling stock
3
The owner's interest in his
C
Current assets
business.
4
Money the owner gives to
Capital
start up a business
Profit motive
Outsiders to whom the
business owes money for
stock purchased or bought
The primary reason why an
F
Entity rule
Entrepreneur start a
business.
Transcribed Image Text:06/03/2021 Choose the correct words from column B to match the Description in column A. only write down the correct letter in column B. 1 The owner and his business are seen as separate Mortgage bond Money received by the business for rendering a Tangible assets service or selling stock 3 The owner's interest in his C Current assets business. 4 Money the owner gives to Capital start up a business Profit motive Outsiders to whom the business owes money for stock purchased or bought The primary reason why an F Entity rule Entrepreneur start a business.
7.
Their value changes
Owner's Equity
continually and can be easily
be converted into cash
Debtors
8.
Money acquired from a
11
commercial bank in order to
buy property
Assets that have a reasonably
Income
9.
long lifespan.
Converting current assets
into cash in order to pay
Creditors
10
current liability.
K
Liquidity
11
Outsider who owe the
business money for stock sold
Transcribed Image Text:7. Their value changes Owner's Equity continually and can be easily be converted into cash Debtors 8. Money acquired from a 11 commercial bank in order to buy property Assets that have a reasonably Income 9. long lifespan. Converting current assets into cash in order to pay Creditors 10 current liability. K Liquidity 11 Outsider who owe the business money for stock sold
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