Complete the Following Using the Terms Listed

question 58

Multiple Choice

Complete the following using the terms listed.
-A(n) _____ is anything of value owned or leased by a business.

• A)certified public accountant
• B)International Financial Reporting Standards
• C)asset
• D)liability
• E)Owners' equity
• F)accounting equation
• G)balance sheet
• H)income statement
• I)Sarbanes-Oxley Act (SOX)
• J)accrual accounting
• K)open book management
• L)budget
• M)generally accepted accounting principles (GAAP)
• N)Financial Accounting Standards Board (FASB)
• O)profitability ratios
• P)International Accounting Standards Committee (IASC)
• Q)Leverage ratios
• R)management accountant

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Definitions:

United States

A federal republic in North America, comprised of 50 states, a federal district, five territories, and various possessions.

Legal Memorandum

A document written by an attorney or paralegal presenting research, analysis, and legal arguments related to a specific legal issue or case.

Internal Legal

Pertaining to or within the legal processes, decisions, or documents of an organization or institution.

Components

Individual parts or elements that collectively form a system, machine, or piece of equipment.