Match Each Term with Its Definition

question 26

Multiple Choice

Match each term with its definition.
-Bank account into which money may be deposited and checks may be written against

• A)ABA number
• B)agent
• C)ATM
• D)bank statement
• E)cashier's check
• F)certified check
• G)check register
• H)checking account
• I)currency
• J)deposit

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Definitions:

Net Operating Income

The profit generated from a company's ordinary, day-to-day business operations, calculated by subtracting operating expenses from gross profit.

Contribution Approach

A method of income statement presentation where variable costs are deducted from sales to find the contribution margin.

Expected Cost

An estimate of the cost associated with a project or production, taking into account various factors like labor, materials, and overhead.

Sell

To sell involves the exchange of a product or service for money, constituting a basic economic transaction between a provider and a receiver.