Match the Terms with the Definitions

question 24

Multiple Choice

Match the terms with the definitions.
-A form used to pull together all of the information needed to enter adjusting entries and prepare the financial statements.

• 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:

Resources

Assets, capabilities, processes, information, and knowledge that an organization controls and utilizes to achieve its goals and objectives.

Domestic Products

Goods and services that are produced within a country's borders and are intended for consumption in the same country.

Foreign Market

A market outside the company's home country where it conducts business activities or sells products.

Adaptations

Modifications or adjustments made to a product, strategy, or approach to better fit a specific market or set of requirements.