Match Each Definition with the Correct Term Below

question 91

Multiple Choice

Match each definition with the correct term below.
-Income from operations

• A)Information should have direct bearing on a decision.
• B)The quality or accounting information that enables users to comprehend the meaning of the information they receive.
• C)The quality of accounting information that assures users that information as presented can be substantiated.
• D)The accounting convention that requires that once a company has adopted an accounting procedure,it must use it from one period to the next.
• E)The accounting convention that refers to the relative importance of an item or event.
• F)The accounting convention that states that when faced with choosing between two equally acceptable procedures or estimates,accountants should choose the one that is least likely to overstate assets and income.
• G)Cash and other assets that a company can reasonably expect to convert to cash,sell,or consume within one year or the company's normal operating cycle.
• H)Debts that fall due more than one year in the future or beyond the normal operating cycle.
• I)The amount that stockholders invest in the business.
• J)Gross sales less sales returns and allowances
• K)The amount a merchandiser paid for the merchandise it sold during an accounting period.
• L)The income from a company's main business.

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Definitions:

Labor Force

The labor force comprises all individuals above a certain age who are either employed or actively seeking employment, representing the available workforce for an economy.

Discouraged Workers

Discouraged workers are individuals who are not actively seeking employment due to believing that no jobs are available for them or that they would not qualify for those that are.

Disinflation

A slowdown in the rate of inflation, indicating a deceleration in the pace at which prices for goods and services rise.

CPI

The Consumer Price Index is an index that calculates the weighted average price of a basket of consumer goods and services, serving as a gauge for inflation.