1) Matching Instructions: Match column A with Column B

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1) Matching Instructions: Match column A with Column B. Write LETTERS ONLY on the provided answer sheet. COLUMNA COLUMN B 1. It is also known as bookkeeping. GAAP 2. An external user of financial information. b IFRS 3. The owners of corporations. Revenues 4. The body that has the power to describe the accounting d Economic entity practices and standards used by many countries except US. Expenses 5. The assumption that enables accounting to quantify (measure) f Liabilities economic events. g Retained earnings 6. Common characteristic possessed by all assets. h Dividends 7. Existing debts or obligations. Recording 8. Performance of services, selling of merchandise, rental of j Analyzing property. k Net Income 9. Another component of equity aside from share capital. 1 Net Loss 10. Distribution of cash or other assets to shareholders. Investor 11. Revenues < Expenses results Journal 12.It presents revenues and expenses for a specific period of time. Chart of accounts 13.Book of original entry ? Shareholders 14.It requires that each transaction must be recorded in at least Proprietor two different accounts and the total debit amount is equal to Future economic benefit total credit amount. Tangible nature 15.Listing of the accounts and the account numbers which Monetary unit identify their location in the ledger. Income statement Statement of financial position Double-entry system Accrual basis ??? ??? | ??? m n a 0 r S t U V W ? 1. +Problem 1: 6. 2. 7. 3. 8. 4. 9. 5. 10. 11. 12. 13. 14. 15.