Elements of
Financial Statements

The following questions pertain to the Financial Accounting Standards Board's Concepts Statement No. 6, which can be found at www.FASB.org.

NOTE: To see each answer, place your cursor in the middle of the cell under "Unscrambled Answer".

	Word Clue	Scrambled Answer	Unscrambled Answer
1.	Probable future economic benefits is part of the definition of __________.	STASES	ASSETS
2.	Inflows from delivering goods or services and other activities that are part of a company's main operations.	ESEERUNV	REVENUES
3.	The residual interest in the assets of an entity after deducting liabilities.	YQUIET	EQUITY
4.	______________ by owners increase their ownership interest.	TSNMISVENTE	INVESTMENTS
5.	Probable future sacrifices resulting from a past transaction or event.	IILLBESTIAI	LIABILITIES
6.	Outflows, using up of assets, or incurring a liability as the result of earning revenues.	SENPSEEX	EXPENSES
7.	Other ___________________ income includes unrealized gains or losses on available-for-sale securities.	PORCHESIMEVEN	COMPREHENSIVE
8.	The net outflows resulting from peripheral transactions.	SSOLES	LOSSES
9.	__________________ to owners will decrease owner's equity.	TORNDUSTIBISI	DISTRIBUTIONS
10.	The net increases in equity from peripheral transactions.	SAGIN	GAINS

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