Match Each Description with the Item Below

question 91

Multiple Choice

Match each description with the item below.
-George H. W. Bush

• A)was Ronald Reagan's budget director who proposed major reductions in federal spending
• B)was the youngest combat pilot to have flown in the U.S. military and was an oil executive in Texas
• C)was a televangelist and founder of the Moral Majority
• D)worked to fend off communism in the Screen Actor's Guild and was governor of California
• E)met with Ronald Reagan to discuss ways to reduce the threat of nuclear war
• F)was a National Security Council aide and the main actor in the Iran-Contra affair
• G)was a landmark appointee to the Supreme Court by Ronald Reagan
• H)was a Texas billionaire who appealed to Americans who were fed up with the two major parties
• I)made history as a vice-presidential candidate chosen by Walter Mondale
• J)said, "[My opponent] will raise taxes, and so will I. He won't tell you. I just did."

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Definitions:

Journal Entries

Records of financial transactions in the books of accounts, acting as the primary source for all accounting processes.

Available-for-Sale Securities

Financial assets that are not classified as held-to-maturity or trading securities, and can be sold in the short-term.

Market Adjustment

Market adjustment is the process of modifying the value of an asset or inventory to reflect its current market value rather than its book value, often due to changes in demand, supply, or economic conditions.

Journal Entry

A record in accounting that shows the economic effects of transactions on the accounts of a business.