Unscramble Letters Financial Statements Unscramble ChallengeOnline version Test your knowledge of key concepts related to financial reporting in this fun word game! by Arlhene Lictawa 1 A financial statement that summarizes assets, liabilities, and equity at a specific point in time. A L C N E B A 2 Resources owned by a company that have economic value and can provide future benefits. S S E S A T 3 Obligations or debts that a company owes to outside parties, requiring future settlement. L I I T B I E A I S L 4 The residual interest in the assets of an entity after deducting liabilities, representing ownership. Y E U T Q I 5 The income generated from normal business operations, typically from sales of goods and services. E E N R U E V 6 Costs incurred in the process of earning revenue, which reduce overall profit. E S P N X E E S 7 The net amount of cash being transferred into and out of a business, indicating liquidity. L C S O W A F H 8 A formal record that provides an overview of financial performance and position over a period. T N T S E T E A M
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