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Accounting

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Created by: Penningtonj

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Question	Answer
Revenues	Amounts earned from selling products or services to customers.
Accounting Equation	The 3 measurement categories: Asset = Liabilities + Stockholder's Equity
Asset	Resources owned by a company.
Liabilities	Amounts owed to creditors.
Net Income	The difference between revenues and expenses.
Expenses	The costs of providing products and services.
Stockholder's Equity	Owner's claim to resources.
Dividens	If the corporation has positive net income, it typically will distribute to its owners, the stockholders, some of those profits in form of a cash payment.

Revenues	Answer: Amounts earned from selling products or services to customers.	1	0	false
categories	The 3 measurement _____: Asset = Liabilities + Stockholder's Equity	2	1	true
Asset	Answer: Resources owned by a company.	3	0	false
Liabilities	Answer: Amounts owed to creditors.	4	0	false
revenues	The difference between _____ and expenses.	5	1	true
Expenses	Answer: The costs of providing products and services.	6	0	false
Dividens	Answer: If the corporation has positive net income, it typically will distribute to its owners, the stockholders, some of those profits in form of a cash payment.	8	0	false