Knowledge Check $01$

Match the term and the definition.

$\backslash$table$[[$TERMS$,$DEFINITIONS$],[$Revenues$,\backslash$table$[[$Inflows or other enhancements of assets of an entity or settlements of its liabilities during a period from delivering or producing goods,$],[$rendering services, or other activities that constitute the entity's ongoing central operations$]]],[$Expenses$,\backslash$table$[[$Outflows or other using up of assets or incurrences of liabilities during a period from delivering or producing goods, rendering services,$],[$or other activities that constitute the entity's ongoing central operations$]]],[$Assets$,$Probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events$],[$Liabilities$,\backslash$table$[[$Probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide$],[$services to other entities in the future as a result of past transactions or events$]]],[$Equity$,$Residual interest in the assets of an entity that remains after deducting its liabilities$]]$