In the space provided at right, write the word or phrase that is defined or indicated.

1.Obligations expected to be liquidated1.____________________________________

through use of current assets.

2.Statement showing financial condition at a2.____________________________________

point in time.

3.Events that depend upon future outcomes.3.____________________________________

4.Probable future sacrifices of economic4.____________________________________

benefits.

5.Resources expected to be converted to5.____________________________________

cash in one year or the operating cycle,

whichever is longer.

6.Resources of a durable nature used in6.____________________________________

operations.

7.Economic rights or competitive advantages7.____________________________________

which lack physical substance.

8.Probable future economic benefits.8.____________________________________

9.Residual interest in the net assets of an9.____________________________________

entity.