Match the Terms with the Definitions

question 28

Multiple Choice

Match the terms with the definitions.
-Cash and assets that will be converted into cash or consumed within either one year or the normal operating cycle of the business,whichever is longer.

• A)account form of balance sheet
• B)accounting cycle
• C)classified balance sheet
• D)closing process
• E)current assets
• F)current liabilities
• G)Income Summary
• H)long-term liabilities
• I)operating cycle
• J)permanent accounts
• K)post-closing trial balance
• L)property, plant, and equipment
• M)report form of balance sheet
• N)temporary accounts

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Definitions:

Improvisation

The art of spontaneously creating something without preparation.

Self-correcting Feedback

A mechanism or process that automatically adjusts or corrects the direction of a system or behavior based on its performance or outcome.

Deliberately Ask

The act of posing questions with intention and focus, often to gain information or clarity on a topic.

Accomplishing

The act of achieving or completing a task, goal, or objective successfully through effort, skill, or courage.