Fill in the blank with these terms : long term, expense, balance sheet, Stockholder's equity, revenue, current revenue, service, costs, goods Revenues are monies an organization received in exchange for______ and______ it provides. Expenses are the ______incurred to generate .______ Net income is the difference between _______ and . ______ A________ indicates the financial position of an organization at a particular point in time. ______ assets generally are cash or will become cash within 1 year. ______ liabilities are obligations that must be paid after 1 year. ________ consists of contributed capital and retained earnings.

Fill in the blank with these terms : long term, expense, balance sheet, Stockholder's equity, revenue, current revenue, service, costs, goods Revenues are monies an organization received in exchange for__ and it provides. Expenses are the incurred to generate . Net income is the difference between _ and . A indicates the financial position of an organization at a particular point in time. assets generally are cash or will become cash within 1 year. liabilities are obligations that must be paid after 1 year. __ consists of contributed capital and retained earnings.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 6MC: If a company capitalizes costs that should be expensed, how is its income statement for the current...

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