Q • Question 1 0.2 out of 0.2 points A claim against the customer created by selling merchandise or services on credit is called what? • Question 2 0.2 out of 0.2 points A concept of accounting that limits the economic data in the accounting system to data related directly to the activities of the business is called what? • Question 3 0.2 out of 0.2 points A list of the assets, liabilities, and owner’s equity as of a specific date, usually at the close of the last day of a month or a year is which report? • Question 4 0.2 out of 0.2 points An economic event or condition that directly changes an entity’s financial condition or directly affects its results of operations is called what? • Question 5 0.2 out of 0.2 points An information system that provides reports to stakeholders about the economic activities and condition of a business is called what?

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