Match the Terms with the Definitions

question 33

Multiple Choice

Match the terms with the definitions.

-Items a business owns that will provide future benefits.

• A) account
• B) accounts payable
• C) accounts receivable
• D) accounting equation
• E) assets
• F) balance sheet
• G) business entity
• H) business entity concept
• I) business transaction
• J) drawing
• K) expenses
• L) income statement
• M) liability
• N) net income
• O) net loss
• P) notes payable
• Q) owner's equity
• R) revenues
• S) statement of owner's equity

---

Definitions:

Properly Payable

A term referring to checks or other negotiable instruments that meet all requirements for payment by the financial institution on which they are drawn.

Re credit

A review or reevaluation of an individual's or entity's credit situation, often with the aim of improving their credit score or terms of credit.

Virtual Currencies

Digital or online currencies that use cryptography for security and operate independently of a central bank.

Point-of-sale Terminals

Electronic systems used at retail locations to process card payments and manage sales transactions.