Match the Terms with the Definitions

question 53

Multiple Choice

Match the terms with the definitions.
-Accounts that are deducted from the Purchases account when computing cost of goods sold (i.e., Purchases Returns and Allowances, Purchases Discounts) .

• A)contra-cost accounts
• B)contra-revenue accounts
• C)physical inventory
• D)unearned revenue

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Definitions:

Renal Failure

A medical condition where the kidneys lose their ability to filter waste and excess fluids from the blood effectively.

Genus

A class or group of entities that share a common characteristic distinct from other groups; in taxonomy, a way to categorize species with shared traits.

Concept Definition

Concept definition involves clearly outlining the essential characteristics and defining attributes of a concept to distinguish it from other concepts.

Consistent

A relation between two or more statements that are both true on at least one assignment of truth values to their atomic components.