COMPLETION STATEMENTS
270.Accounting is an information system that identifies, _____________, and _____________ the economic events of an organization.
271.The mere recording of economic events is called ______________, and is just one part of the _______________ process.
272.Accounting standards issued in the United States by the Financial Accounting Standards Board are called _________________.
273.The ________________ principle states that companies should record assets at their cost.
274.The _________________ assumption requires that the activities of an entity be kept separate from the activities of its owner.
275.The residual claim on total assets of a business is known as ________________ and is equal to total assets minus total liabilities.
276.Dividends ________________ equity but are not expenses.
277.The ________________ reports the assets, liabilities, and equity of a business enterprise at a specific date.
a278.The three major services rendered by a public accountant are ______________, ________________, and management ________________.
a279.Accountants who are employees of business enterprises are referred to as ________________ accountants.