Match Each Account to the Proper Account Description;not All Letters

question 33

Multiple Choice

Match each account to the proper account description;not all letters will be used.
-Convertible Debentures

• A)Stocks and bonds of other companies held for the purpose of exercising control.
• B)An accumulation of the sum of the expense since the beginning of the benefit period.
• C)Outside ownership in the equity of consolidated subsidiaries.
• D)Machinery and tools,valued at historical cost.
• E)Monies due because expenses,such as salaries,are incurred in a different period than when the cash outlay occurs.
• F)The most liquid of assets,it may also include savings accounts.
• G)Goods on hand.
• H)A potential liability created by differing tax and reporting methods.
• I)Ownership and debt instruments readily converted to cash.
• J)An expenditure made in advance of the use of the service or good.
• K)Monies due from customers arising from sale or service rendered.
• L)The capital stock of residual owners.
• M)Bonds that can be exchanged for stock at the option of the holder.
• N)Undistributed earnings of the corporation.
• O)Shares of the firm's own stock that have been repurchased.
• P)Monies due for goods bought for use or resale.
• Q)Excess over legal par paid at time of sale.
• R)Nondepreciable real estate.
• S)Collections in advance of service.
• T)Securities that give the holder the right to buy additional shares of common stock at a fixed price.

---

Definitions:

Deferred Benefit Plan

A type of retirement plan that allows participants to postpone receiving retirement benefits until a specific future date, often to optimize tax benefits.

Elective Surgical Procedure

A surgery that is scheduled in advance because it does not involve a medical emergency.

Equilibrium Price

The cost at which the amount of a product or service that buyers want matches the amount that sellers provide, resulting in a balanced market situation.

Immediate Price

The current price of a good or service at which it can be bought or sold instantly.