Match the Terms with the Definitions

question 39

Multiple Choice

Match the terms with the definitions.
-A business that buys products to sell.

• A)accountant
• B)accounting
• C)accounting clerk
• D)analyzing
• E)auditing
• F)bookkeeper
• G)budgeting
• H)Certified Public Accountant
• I)classifying
• J)controller
• K)corporation
• L)cost accounting
• M)financial accounting
• N)generally accepted accounting principles
• O)internal auditing
• P)interpreting
• Q)manufacturing business
• R)merchandising business
• S)para-accountant
• T)partnership
• U)recording
• V)reporting
• W)service business
• X)sole proprietorship
• Y)summarizing
• Z)tax accounting

Recognize the process and benefits of organizing accounts using the Chart of Accounts in accounting software.

Comprehend the structure and components of the Balance Sheet and Income Statement.

Analyze the effects of business transactions and events on owner's equity.

Apprehend the significance of account numbers in organizing financial information.

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Definitions:

Quantify

To express or measure something in terms of numbers or quantities.

Capital Budgeting

The process by which investors and managers decide which significant investments or projects to undertake, based on potential profitability.

Risk

The potential for loss, damage, or any other negative occurrence that may be avoided through preemptive action.

Probability Distributions

Mathematical functions that describe all the possible values and likelihoods that a random variable can take within a given range.