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Match Each Term to the Correct Descriptor

question 89

Multiple Choice

Match each term to the correct descriptor.
-Means "above" or "farther from the ground"


Definitions:

Salaries Payable

A liability account that represents the amount owed to employees for work done but not yet paid.

Fiscal Period

A specific time period used for accounting purposes and preparing financial statements, usually twelve months.

Accumulated Depreciation

The cumulative amount of depreciation cost recorded for an asset from the time it was first utilized.

Fixed Asset Account

An account that tracks the purchase, depreciation, and disposal of long-term assets used in the production of goods or services.

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