Question

Why are must large companies like Microsoft, Pepsi, and Office Depot organized as corporations? Identify each term defined below. Chronological record of an entity's transactions Statement that shows revenues earned and the expenses incurred for a given period Claims by outsiders on the resources of a business The three types of nominal (temporary) accounts The right side of an account The rules' of accounting Resources that provide future economic benefits to a business Process of transferring the entries from book of original entry to the accounts Statement that reports the assets. liabilities, and stockholder's equity at a specific date The three types of real (permanent) accounts The book of original entry.