A. accrued income B. non- current asset C. notes receivable D. income E. rent expense F. cash G. owner's equity H. intangible assets I. liability J. chart of accounts 1. It is the debt of the company payable in money, goods, or services. 2. It is the list of all accounts of the company that is being used by the firm to their financial records. 3. These are non-monetary assets but identifiable although without physical substance. 4. It is the claim of the owner on the business. 5. It is the most liquid asset which can be given and taken easily. 6. It is an expense for lease like office space, building space, and land. 7. Examples of this are service revenue and sales. 8. It is a written note from the customer to pay his account on a given time and date. 9. Property Plant and Equipment (PPE), land, and buildings are examples of these. 10. This account title is a revenue earned but not yet collected.

A. accrued income B. non- current asset C. notes receivable D. income E. rent expense F. cash G. owner's equity H. intangible assets I. liability J. chart of accounts 1. It is the debt of the company payable in money, goods, or services. 2. It is the list of all accounts of the company that is being used by the firm to their financial records. 3. These are non-monetary assets but identifiable although without physical substance. 4. It is the claim of the owner on the business. 5. It is the most liquid asset which can be given and taken easily. 6. It is an expense for lease like office space, building space, and land. 7. Examples of this are service revenue and sales. 8. It is a written note from the customer to pay his account on a given time and date. 9. Property Plant and Equipment (PPE), land, and buildings are examples of these. 10. This account title is a revenue earned but not yet collected.

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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