Match the Terms with the Definitions

question 45

Multiple Choice

Match the terms with the definitions.
-Net income divided by average owner's equity.

• 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:

Jane's Capital

Jane's Capital refers to the amount of money or value of assets that Jane has invested in a business or enterprise.

Legal Practice

The profession and activities related to providing legal advice, representation, and services to clients.

Journal Entry

A record in accounting that notes a specific financial transaction in a company's general ledger.

Revenue

Revenue is the total amount of money earned by a company from its business activities, such as sales of goods or services, before any expenses are subtracted.