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7. Obligations expected to be liquidated 7____________________________
through use of current assets.
8. Statement showing financial condition at a 8.____________________________________
point in time.
9. Events that depend upon future outcomes. 9.____________________________________
10. Probable future sacrifices of economic benefits 10.___________________________________
11. Resources expected to be converted to 11._____________________________
cash in one year or the operating cycle,
whichever is longer.
12. Resources of a durable nature used in 12.__________________________
operations.
13. Economic rights or competitive advantages 13.______________________________
which lack physical substance.
14. Probable future economic benefits. 14.____________________________________
15. Residual interest in the net assets of an entity 15._______________________________
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