ONE WORD / TERM Choose ONE word/term for each of the following descriptions from the list below. Write only the word/term next to the question number (1.4.1 to 1.4.3) in the ANSWER BOOK. Owner's equity; Monthly; increases; Daily; decreases; 1.4.1 Transactions are recorded on a Journal. Basis in the Cash Receipt 1.4.2 Expenses on the debit side. 1.4.3 The net worth of the business.​