Required: Match each term with its related definition by selecting the appropriate letter from the definition list that follows. There should be only one definition per term that is, there are more definitions than terms). Definition A. Economic resources to be used or turned into cash within one year. 8. Reports assets, liabilities, and stockholders' equity. c. Decrease assers: Increase 1 abilities and stockholders equity. D. Increase assets; decrease liabilities and stockholders' equity. E. An exchange or event that has a direct and measurable financial effect. F. Accounts for a business separate from its owners G. The principle that assets should be recorded at their original cost to the conpany. H. A standardized format used to accumulate data about each Iten reported on financial statements. 1. The basic accounting equation 3. The idea that accounts on both increase and decrease * The account credited when money is borrowed from a bank using a promissory note. L. Cumulative earnings of a company that have not yet been distributed to the owners. M. Every transaction has at least to effects N. Amounts presently owed by the business Term Definition money is borrowed from a bank using L. Cumulative earnings of a company that have not yet been distril M. Every transaction has at least two effects, N. Amounts presently owed by the business. Definition E B Term 1. Transaction 2. Separate Entity Assumption 3. Balance Sheet 4. Liabilities 5. Assets = Liabilities + Stockholders' Equity 6. Current Assets 7. Notes Payable 8. Duality of Effects 9. Retained Earnings 10. Debit OM