Match each term with the correct statement below.
a. accounting
b. accounting equation
c. private accountant
d. public accountant
e. assets
f. liabilities
g. owners’ equity
h. double-entry bookkeeping
1. An accountant who is employed by IBM
2. The process of collecting, analyzing, and reporting economic information for decision-making purposes
3. Accounts payable and notes payable are examples
4. It shows the relationship between assets, liabilities, and owners’ equity
5. An individual who typically works for a firm that provides accounting services, such as audits, to another firm
6. Cash and machinery are examples
1. C) private accountant
2. A) accounting
3. F) liabilities
4. B) accounting equation
5. D) public accountant
6. E) assets
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