match 1 suppices 2. Account Payable 3, fent expanses 4. Service income 5, gain on sales long 6. term lissets 6 Sole Proprietouship 7 Pautnership 8 Corporation 9 Asset + Liabilities Le + eq u=+y . 4. Asset B. Income c. expanses D. Liabilities E. Equity F. business owned by one person G, Business owned by two or more person (co-own H, business organization reconganized under Nue haw I. The basic equation. Possibie the Periodic matching of costs and Revenves. ccounting is the art of recording, Class: Fying ad summerizing significant monner and wes of money.

Let's match the terms correctly:<br /><br />1. **Supplies** - C. Expenses<br />2. **Accounts Payable** - D. Liabilities<br />3. **Fent Expenses** - C. Expenses<br />4. **Service Income** - B. Income<br />5. **Gain on Sales of Long-Term Assets** - B. Income<br />6. **Term Loans** - D. Liabilities<br />7. **Sole Proprietorship** - F. Business owned by one person<br />8. **Partnership** - G. Business owned by two or more persons (co-owned)<br />9. **Corporation** - H. Business organization recognized under law<br />10. **Assets + Liabilities = Equity** - I. The basic equation<br />11. **Assets** - A. Asset<br />12. **Income** - B. Income<br />13. **Expenses** - C. Expenses<br />14. **Liabilities** - D. Liabilities<br />15. **Equity** - E. Equity<br />16. **Business owned by one person** - F. Sole Proprietorship<br />17. **Business owned by two or more persons (co-owned)** - G. Partnership<br />18. **Business organization recognized under law** - H. Corporation<br />19. **The basic equation** - I. Assets + Liabilities = Equity<br />20. **Periodic matching of costs and revenues** - Possible the Periodic matching of costs and Revenues.<br /><br />**Accounting** is the art of recording, classifying, and summarizing significant monetary and non-monetary transactions.