Elements of Financial Statements (Word Scramble)

1. Probable future economic benefits is part of the definition of __________.

2. Inflows from delivering goods or services and other activities that are part of a company's main operations.

3. The residual interest in the assets of an entity after deducting liabilities.

4. ______________ by owners increase their ownership interest.

5. Probable future sacrifices resulting from a past transaction or event.

6. Outflows, using up of assets, or incurring a liability as the result of earning revenues.

7. Other ___________________ income includes foreign currency translation adjustments.

8. The net outflows resulting from peripheral transactions.

9. __________________ to owners will decrease owner's equity.

10. The net increases in equity from peripheral transactions.