​Match the Accounting Terminology with Its Definition and Example

question 40

Multiple Choice

​Match the accounting terminology with its definition and example.Note: Answers may be used more than once.
-The medical office purchases office supplies,medications,utilities,and so on

• A)accounts payable
• B)​assets
• C)​corporation
• D)​cost
• E)​economic entity assumption
• F)​liabilities
• G)​market value
• H)​monetary unit assumption
• I)​note payable
• J)​(paid-in)capital
• K)​partnership
• L)​proprietorship
• M)​retained earnings
• N)stockholders' equity

Record transactions related to purchases and sales, utilizing the gross method for sales discounts.

Understand the concepts of asset turnover ratio and the accounting for sales discounts.

Understand and apply the fundamentals of recording transactions in a journal.

Compute and analyze financial ratios to assess a company's performance.

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Definitions:

Vital Signs

Basic physiological measurements of the body's main functions, including temperature, blood pressure, pulse, and respiratory rate, used to assess health.

Abdominal Pain

Discomfort or pain felt anywhere in the region between the chest and the groin.

Diarrhea

A condition characterized by frequent, loose, or watery bowel movements, often symptomatic of infection, digestive disorders, or dietary issues.

Hyperactivity

An abnormally high level of activity or restlessness, often associated with attention deficit hyperactivity disorder (ADHD).