17. Outflows or other consumption or using up of assets or incurrences of liabilities (or a combination of both) from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity's ongoing major or central operations.
18. The change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from nonowner sources. It includes all changes in equity during a period, except those resulting from investments by owners and distributions to owners.
19. Probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.
20. The residual interest in the assets of an entity after deducting its liabilities.
21. Inflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivering or producing goods, rendering services, or engaging in other activities that constitute the entity's ongoing major or central operations.
22. Increases in the equity (net assets) from peripheral or incidental transactions of an entity and from all other transactions and other events except circumstances from revenues or investments by owners.
13. ANS: B PTS: 1 DIF: Difficulty: Moderate
NAT: BUSPROG: Communication
STA: AICPA: FN: Measurement | ACBSP: GAAP | IMA: Financial Statement Analysis
TOP: Development of Generally Accepted Accounting Principles (GAAP) in the United States
KEY: Bloom's: Comprehension NOT: Time: 15 min.
14. ANS: D PTS: 1 DIF: Difficulty: Moderate
NAT: BUSPROG: Communication
STA: AICPA: FN: Measurement | ACBSP: GAAP | IMA: Financial Statement Analysis
TOP: Development of Generally Accepted Accounting Principles (GAAP) in the United States
KEY: Bloom's: Comprehension NOT: Time: 15 min.
15. ANS: E PTS: 1 DIF: Difficulty: Moderate
NAT: BUSPROG: Communication
STA: AICPA: FN: Measurement | ACBSP: GAAP | IMA: Financial Statement Analysis
TOP: Development of Generally Accepted Accounting Principles (GAAP) in the United States
KEY: Bloom's: Comprehension NOT: Time: 15 min.
16. ANS: J PTS: 1 DIF: Difficulty: Moderate