Match the word or phrase with the best description of it An

Match the word or phrase with the best description of it. ;An expression about whether financial statements conform with generally accepted accounting principles A business that raises money by issuing shares of stock. The portion of stockholders\' equity that results from receiving cash from investors. Obligations to suppliers of goods. Amounts due from customers A party to whom a business owes money. A party that invests in common stock. A business that is owned jointly by two or more individuals but does not issue stock.

Solution

(a) Auditor\'s opinion - An expression about whether financial statements conform with generally accepted accounting principles.

(b) Corporation or company- A business that raises money by issuing shares of stock

(c) Common stock- The portion of stockholders’ equity that results from receiving cash from investors.

(d) Account payable- Obligations to suppliers of goods.

(e) Account receivable-Amounts due from customers.

(f) Creditor-A party to whom a business owes money.

(g) Stockholder or shareholder- A party that invests in common stock.

(h) Partnership-A business that is owned jointly by two or more individuals but does not issue stock.