Match the following terms with the appropriate component of the accounting equation:
1. Assets
2. Liabilities
3. Shareholders’ Equity
A. The probable sacrifices of economic benefits arising from the present obligations of a company to transfer assets or provide services in the future as a result of past transactions or events
B. The residual interest in the assets of a company that remains after deducting its liabilities
C. The probable future economic benefits obtained or controlled by a company as a result of past transactions or Events

  • CreatedOctober 05, 2015
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