​Match the Accounting Terminology with Its Definition and Example

question 56

Multiple Choice

​Match the accounting terminology with its definition and example.Note: Answers may be used more than once.
-​Law firms,medical practices,CPAs

• 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

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Definitions:

Member Affective Needs

The emotional and psychological requirements or preferences of members within a group or organization.

Cohesion

The force that holds a group of people together, ensuring unity and solidarity.

Multidimensionality

The characteristic of having several dimensions or facets, often used to describe complex phenomena that cannot be adequately understood through a single perspective or variable.

Instrumentality

The extent to which a tool or procedure is perceived as a means to achieve an end or a particular result.