10. An unwritten promise to pay a supplier for assets business entity purchased or services rendered. concept 8 11. Reports assets, liabilities, and owner's equity on a accounting specific date. equation 7 12. An amount owed to a business by its customers as a result of the sale of or services. assets 6 13. The amount by which the business assets exceed the business liabilities. accounts payable 10 14. Reports the profitability of business operations for a specific period of time. account 2 15. Reports beginning capital, plus net income, less accounts withdrawals to compute ending capital. receivable 12 16. The decrease in assets (or increase in liabilities) as a result of efforts to produce revenues. business entity 5
10. An unwritten promise to pay a supplier for assets purchased or services rendered. business entity concept 8 11. Reports assets, liabilities, and owner's equity on a specific date. accounting equation 7 12. An amount owed to a business by its customers as a result of the sale of or services. assets 6 13. The amount by which the business assets exceed the business liabilities. accounts payable 10 14. Reports the profitability of business operations for a specific period of time. account 2 15. Reports beginning capital, plus net income, less withdrawals to compute ending capital. accounts receivable 12 16. The decrease in assets (or increase in liabilities) as a result of efforts to produce revenues. business entity 5
Test-Bank-College-Accounting-Chapters-1-27-19th-Edition-Heintz.docx