Match the Terms with the Definitions

question 62

Multiple Choice

Match the terms with the definitions.
-Those obligations that will extend beyond one year or the normal operating cycle, whichever is longer.

• A)accounts receivable turnover
• B)average collection period
• C)reversing entry
• D)return on owner's equity
• E)current assets
• F)current liabilities
• G)current ratio
• H)post-closing trial balance
• I)Mortgage Payable
• J)income from operations
• K)interstatement analysis
• L)mortgage
• M)long-term liabilities

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Definitions:

Traded

The action of buying, selling, or exchanging goods and services among parties.

Wastefully Used

Describes resources or items being utilized inefficiently or in a manner that does not maximize value.

Non-Renewable Resources

Natural resources such as coal, oil, and natural gas that cannot be replenished at the same rate they are consumed and will eventually deplete.

Nature

The physical world collectively, including plants, animals, landscapes, and other features and products of the earth, as opposed to humans or human creations.