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Elements of Financial Statements(Word Scramble)

Author:
Harold Averkamp, CPA, MBA

To see each answer, press or click on the blue "Unscramble" button. If you have difficulty answering the following questions, learn more about this topic by reading our Elements Of Financial Statements (Explanation).

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

ASSETS ESSTSA
ASSETS SAESST

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

REVENUES NUSEVREE
REVENUES RVUEENSE

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

EQUITY TIEQUY
EQUITY TEUQIY

4. ______________ by owners increase their ownership interest.

INVESTMENTS SMISNEETVTN
INVESTMENTS TNETENMSSIV

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

LIABILITIES TIBAIILLSEI
LIABILITIES BITIIILSEAL

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

EXPENSES XNPEESES
EXPENSES PEESSEXN

7. Other ___________________ income includes foreign currency translation adjustments.

COMPREHENSIVE EESOPENVHCMIR
COMPREHENSIVE PEIHCVSMRONEE

8. The net outflows resulting from peripheral transactions.

LOSSES SLSOES
LOSSES LSOSES

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

DISTRIBUTIONS BOIITSDISRTNU
DISTRIBUTIONS NBTSISITUIORD

10. The net increases in equity from peripheral transactions.

GAINS SNAIG
GAINS AGSNI
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

Learn More About Harold

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