Intermediate Accounting - Myaccountinglab - Pearson Etext Access Card Student Value Edition
Intermediate Accounting - Myaccountinglab - Pearson Etext Access Card Student Value Edition
1st Edition
ISBN: 9780134047430
Author: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Publisher: PEARSON
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Chapter 2, Problem 2.14BE

Element Definitions. Identify whether the following definitions rotate to assets, liabilities or equity.

Element Definition
_____________ Probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events.
_____________ The net assets are the residual interest in the assets of an entity that remains after deducting ns liabilities.
_____________ Probable future economic benefits will be obtained or controlled by a particular entity as a result of past transactions or events.
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Intermediate Accounting - Myaccountinglab - Pearson Etext Access Card Student Value Edition

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