Match the Term with Its Definition

question 5

Multiple Choice

Match the term with its definition.
-Total (cumulative) depreciation expense taken over an asset's life

• A)accounts payable (trade credit)
• B)accounts receivable
• C)accumulated depreciation
• D)common stock
• E)current assets (working capital)
• F)current debt (short-term liabilities)
• G)current ratio
• H)fixed assets (property, plant, and equipment [PPE])
• I)gross fixed assets
• J)net fixed assets
• K)other assets

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Definitions:

Bank Service Charge

Fees charged by a bank to a customer for account services provided.

Adjusting Entry

Journal entries made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Accounts Receivable

The amount customers are required to pay a business for goods or services already received but not yet settled.

NSF

An abbreviation for "Non-Sufficient Funds," indicating that a cheque cannot be honored because the account does not have enough money.