Match the Terms with the Definitions

question 41

Multiple Choice

Match the terms with the definitions.
-Cash received in advance of delivering a product or performing a service.

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

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Definitions:

Sole Shareholder

An individual or entity that owns 100% of the shares of a corporation.

Nonshareholder-Creditors

Creditors of an entity who, unlike shareholders, do not own any part of the entity but have a claim on its assets due to outstanding debts.

Shareholder Domination

A situation where a single shareholder or a group of shareholders exercise significant influence or control over the operations of a corporation.

Individual Shareholder

An individual who owns shares in a company, thereby holding a portion of the ownership.