Match the Term with the Best Descriptor

question 58

Multiple Choice

Match the term with the best descriptor.
-record keeping aspect of accounting

• A)bookkeeping
• B)bookkeeper
• C)managerial accounting
• D)journal
• E)account
• F)general ledger
• G)audits
• H)internal controls

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Definitions:

Fraudulent Misrepresentation

Deception used to induce someone into a contract, involving false statements that the speaker knows to be untrue.

Fraudulent Misrepresentation

A false statement of fact made knowingly, or without belief in its truth, or recklessly, intended to induce another party to enter into a contract.

Odometer

An instrument in a vehicle that measures the distance it has traveled.

Bilateral Mistake

A misunderstanding where both parties to a contract have incorrect beliefs about an important fact or agreement term.