Chapter 1, Problem 1.1E

Here is a list of words or phi uses discussed in this chapter:

1. 1. Corporation
2. 2. Creditor
3. 3. Accounts receivable
4. 4. Partnership
5. 5. Stockholder
6. 6. Common stock
7. 7. Accounts payable
8. 8. Auditor’s opinion

Instructions

Match each word or phrase with the best description of it.

_______ (a) An expression about whether financial statements conform     with generally accepted accounting principles.

_______ (b) A business that raises money by issuing shares of stock.

_______ (c) The portion of stockholders’ equity that results from     receiving cash from investors.

_______ (d) Obligations to suppliers of goods.

_______ (e) Amounts due from customers.

_______ (f) A party to whom a business owes money.

_______ (g) A party that invests in common stock.

_______ (h) A business that is owned jointly by two or more individuals but does not issue stock.