Fundamental Financial Accounting Concepts
Quiz 1: An Introduction to Accounting
The Financial Accounting Standards Board Is a Privately Funded Organization
The Financial Accounting Standards Board is a privately funded organization with authority for establishing accounting standards for businesses in the US.
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A business and the person who owns the business are separate reporting entities.
Elements are subclassifications of the various accounts of the financial statements.
Liabilities represent the future obligations of a business entity.
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