Match Each Description to the Appropriate Term (A-D)

question 121

Multiple Choice

Match each description to the appropriate term (a-d) . Answers may be used more than once.
-Utilities incurred in the office

• A)Direct materials
• B)Selling and administrative expense
• C)Factory overhead
• D)Direct labor

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Definitions:

Arbitrage Profit

The gain obtained from the simultaneous purchase and sale of the same or equivalent assets or commodities in different markets or in derivative forms.

Selling Short

The investment strategy of selling securities one does not currently own, with the expectation of buying them back later at a lower price.

Mark-To-Market

An accounting method where the value of assets and liabilities is adjusted to their current market values rather than being recorded at their original cost.

Tax Year

A 12-month period used for tax purposes, determining the timeframe over which income, deductions, and tax payments are calculated and reported.