Revisiting accounting

5. Liabilities that will be due within one year or less and that are to be paid out of current assets are called _______ liabilities
6. One purpose of generally accepted accounting principles or _____ is to make accounting information prepared by different companies more comparable
7. The accounting equation may be stated as " stockholder's equity plus liabilities equals_______."
10. The payment of a liability causes a _________ in asset
12. _______indicates the financial status of the business at given period
14. the right side of an account
16. Information that has no bearing on an economic decision to be made is useless
19. Purchase return refers to goods returned by the business to the ___________
22. The overall objective of financial reporting is to provide information for making ______decisions
23. One of the categories of accounting information users
24. withdrawals of assets of a business by its owner for his personal use
26. One of the characteristics of company
28. an intangible asset

1. Financial information must be complete, neutral and free from______
2. a compilation of accounts maintained by a business
3. In going concern concept, an entity is assumed to continue in operation for the foreseeable _______
4. __________ is considered as external user
8. _____ trader is a type of business that is owned by one person
9. _______Accounting primarily protects the interests of the outsiders dealing with organization in various capacities
11. The _____concept considers the business and the proprietor as distinct from each other
13. financial information has confirmatory ______ if it provides feedback about previous evaluations
15. A decrease in a liability is recorded by a ______
17. An enhancing quality of financial accounting information is
18. The art of classifying, recording and summarizing transactions and business events in monetary terms and interpreting the results to interested parties to enable them to make decisions
20. Melor Sdn Bhd is a________company
21. An example of non-current assets
25. credit ____ is a document sent to the buyer to show the reduction in the amount owed by the buyer
27. A _____ balance proves that equal amounts of debits and credits were posted to the ledger and that the arithmetical calculation of account balances was accurate.