Match the Terms with the Definitions

question 27

Multiple Choice

Match the terms with the definitions.
-An account with a credit balance that is deducted from the related asset account on the balance sheet.

• 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:

Caustic Substance

A chemical material capable of burning, corroding, or destroying living tissues.

Duty of Care

A legal obligation requiring individuals to exercise a reasonable level of care and caution to avoid harm to others.

Negligence

Failure to take reasonable care to avoid causing injury or loss to another person, resulting in legal liability.

Zoned "Commercial"

A designation given to an area by a local government, indicating that the land is intended for use by businesses to conduct retail, wholesale, service, or other types of commercial activities.