write the word or phrase that is defined or indicated

7. Obligations expected to be liquidated 7____________________________

through use of current assets.

8. Statement showing financial condition at a 8.____________________________________

point in time.

9. Events that depend upon future outcomes. 9.____________________________________

10. Probable future sacrifices of economic benefits 10.___________________________________

11. Resources expected to be converted to 11._____________________________

cash in one year or the operating cycle,

whichever is longer.

12. Resources of a durable nature used in 12.__________________________

operations.

13. Economic rights or competitive advantages 13.______________________________

which lack physical substance.

14. Probable future economic benefits. 14.____________________________________

15. Residual interest in the net assets of an entity 15._______________________________