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Match the Items Below by Entering the Appropriate Code Letter

Question 229

Matching

Match the items below by entering the appropriate code letter in the space provided.

Premises:
A section of the annual report that presents management’s views.
Officers and others who manage the business.
Consumed assets or services.
Creditor claims against the assets of the business.
Distributions of cash from a corporation to its stock holders.
A separate legal entity under state laws.
Future economic benefits.
Ownership is limited to one person.
A report prepared by management that presents financial information.
Involves acquiring the resources necessary to run the business.
Responses:
Annual report
Management discussion and analysis
Internal users
Expenses
Investing activities
Sole proprietorship
Dividends
Assets
Liabilities
Corporation

Correct Answer:

A section of the annual report that presents management’s views.
Officers and others who manage the business.
Consumed assets or services.
Creditor claims against the assets of the business.
Distributions of cash from a corporation to its stock holders.
A separate legal entity under state laws.
Future economic benefits.
Ownership is limited to one person.
A report prepared by management that presents financial information.
Involves acquiring the resources necessary to run the business.
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