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1. Revenues minus expenses equal
1. Revenues minus expenses equal
1. Revenues minus expenses equal
__________
__________
__________

2. Resources owned by a company (such as cash, accounts receivable, vehicles) are reported on the balance sheet and are referred to as
2. Resources owned by a company (such as cash, accounts receivable, vehicles) are reported on the balance sheet and are referred to as
2. Resources owned by a company (such as cash, accounts receivable, vehicles) are reported on the balance sheet and are referred to as
__________
__________
__________
.
.
.
3. Assets are usually reported on the balance sheet at which amount?
3. Assets are usually reported on the balance sheet at which amount?
3. Assets are usually reported on the balance sheet at which amount?
Cost
Cost
Cost

Current Market Value
Current Market Value
Current Market Value

Expected Selling Price
Expected Selling Price
Expected Selling Price

4. Obligations (amounts owed) are reported on the balance sheet and are referred to as
4. Obligations (amounts owed) are reported on the balance sheet and are referred to as
4. Obligations (amounts owed) are reported on the balance sheet and are referred to as
__________
__________
__________
.
.
.
5. Liabilities often have the word
5. Liabilities often have the word
5. Liabilities often have the word
__________
__________
__________
In their account title
In their account title
In their account title

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