Match Each Term with Its Definition

question 15

Multiple Choice

Match each term with its definition.
-Person who records the financial transactions of a business,keeping a record of accounts receivable and payable

• A)bookkeeper
• B)accountant
• C)account
• D)day sheet
• E)accounts receivable
• F)debit
• G)credit
• H)balance
• I)debit balance
• J)credit balance
• K)Business Associate Agreement (BAA)
• L)charge slip

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Definitions:

Honesty in Fact

A concept referring to the genuine intention or belief without intent to deceive in transactions or dealings.

Conform to Contract

The requirement that goods or services supplied under a contract must meet the specifications agreed upon in the contract.

Substitute Goods

Products or services that can be used in place of one another, offering consumers alternatives.

Risk of Loss

Risk of loss refers to the legal and financial responsibility for damages, destruction, or loss of property, often determining who bears this risk during transactions or in the event of unforeseeable incidents.