Match the Term with Its Definition

question 63

Multiple Choice

Match the term with its definition.
-Financing granted by retailers to individuals who purchase for personal or family use

• A)consumer credit
• B)credit
• C)credit bureaus
• D)credit card
• E)installment account
• F)open charge account
• G)revolving charge account
• H)trade credit
• I)trade-credit agencies
• J)value

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Definitions:

Salaries Expense

The overall cost incurred by a company to pay its employees, typically recorded as an operational expense.

Service Revenue

Income earned by a company through the provision of services to customers.

Owner's Capital

The amount of equity a business owner has invested in the firm or the net worth attributable to them, reflecting their financial stake.

Owner's Drawings

Owner's drawings refer to the withdrawal of cash or other assets from a business by the owner(s) for personal use, affecting the owner's equity account.