Match the Terms with the Definitions

question 53

Multiple Choice

Match the terms with the definitions.

-The concept that nonbusiness assets and liabilities are not included in the business' accounting records.

• A) account
• B) accounts payable
• C) accounts receivable
• D) accounting equation
• E) assets
• F) balance sheet
• G) business entity
• H) business entity concept
• I) business transaction
• J) drawing
• K) expenses
• L) income statement
• M) liability
• N) net income
• O) net loss
• P) notes payable
• Q) owner's equity
• R) revenues
• S) statement of owner's equity

---

Definitions:

Marsden Hartley

An early American modernist painter, known for his contributions to the development of abstraction and his works that explore identity, nature, and the cosmos.

American Art Scene

The development and study of visual arts in the United States, encompassing a wide range of movements, artists, and institutions that contribute to the American cultural landscape.

American Modernist Art

Artwork produced in the United States during the late 19th and early 20th centuries, characterized by a break with traditional styles and experimentation with new forms of expression.

The Armory Show

A landmark exhibition held in 1913 in New York City, showcasing works of modern art and serving as a pivotal moment in the introduction of European avant-garde art to the American public.