Match the Terms with the Definitions

question 12

Multiple Choice

Match the terms with the definitions.

-Consists of the three basic accounting elements: assets = liabilities + owner's equity.

• 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

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Definitions:

Informal Social Control

The unofficial mechanisms through which norms and behaviors are enforced in society, such as peer pressure or community socialization, rather than through legal or formal means.

Immigrants

Individuals who move from their country of origin to live permanently in a foreign country.

Public Enemy Number One

A term historically used to describe someone or something considered to be the most significant threat to a community or society.

Films

Visual entertainment medium consisting of moving images that tell a story or document reality.