PROBLEM #2: Match 'em up! Use the related number... 1. Revenue Recognition Principle 2. Revenue 3. Assets 4. Owner's Equity The equity of creditors.. Shows the operating results over some period of time Taking cash for the owner's personal use. Owner's claim on the assets of the business Business is separate and distinct from its owner.... Economic resources of the firm with a future benefit... Excess of total expenses over total revenues Assets earned for services or goods provided Revenue is recorded at the point it was earned Favorite Professor... 5. Net Income 6. Income Statement 7. Withdrawal 8. Economic Entity Concept 9. Net Loss 10. Liabilities 11. Full Disclosure Principle 12. Professor Neal