Match the Terms with the Definitions

question 12

Multiple Choice

Match the terms with the definitions.
-A principle that requires the matching of revenues earned during an accounting period with the expenses incurred to produce the revenues.

• A)Adjusted Trial Balance columns
• B)Adjusting entries
• C)Balance Sheet columns
• D)book value
• E)contra-asset
• F)depreciable cost
• G)depreciation
• H)fiscal year
• I)historical cost principle
• J)Income Statement columns
• K)market value
• L)matching principle
• M)plant assets
• N)salvage value
• O)straight-line method
• P)undepreciated cost
• Q)useful life
• R)work sheet

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Definitions:

Trial And Error

A fundamental method of problem solving that involves testing various solutions until finding one that works.

Availability

Refers to how easily something can be accessed or retrieved from memory, influencing how likely people are to use that information when making decisions or judgments.

Counterfactual Thinking

involves imagining alternative scenarios and outcomes that might have occurred but didn't.

Inevitable Outcomes

Results or consequences that are certain to happen and cannot be avoided or changed.