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Match the Terms with Their Correct Descriptions/definitions

question 127

Multiple Choice

Match the terms with their correct descriptions/definitions.
-Change in genetic material (DNA) of a cell

Calculate variable overhead efficiency variances.
Understand the impact of variable and fixed costs on budgetary outcomes.
Apply budgeting techniques in service and manufacturing settings.
Analyze the effect of actual activity levels on budgeted amounts.

Definitions:

Balance Sheet Accounts

Accounts that appear on the balance sheet, including assets, liabilities, and shareholders' equity accounts, reflecting the financial position of a business.

Real Accounts

Accounts related to assets, liabilities, and equity that are shown on the balance sheet, maintaining their balances over time and not closed at the end of the accounting year.

Permanent Accounts

Accounts on the balance sheet whose balances are carried over into the next accounting period.

Post-closing Trial Balance

A list of all company accounts that remain after adjusting entries and closing entries have been made, used to test the balance of debits and credits.

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