Match the Items Below by Entering the Appropriate Code Letter

question 42

Short Answer

Match the items below by entering the appropriate code letter in the space provided.
A. Time period assumption
B. Fiscal year G. Depreciation
C. Revenue recognition principle
D. Prepaid expenses
E. Matching principle
F. Accrued revenues
H. Accumulated depreciation
I. Accrued expenses
J. Book value
1. A twelve month accounting period
2. Expenses paid before they are incurred
3. Cost less accumulated depreciation
4. Divides the economic life of a business into artificial time periods
5. Efforts are related to accomplishments
6. A contra asset account
7. Recognition of revenue when it is recorded when earned
8. Revenues earned but not yet received
9. Expenses incurred but not yet paid
10. A cost allocation process
Answers to Matching

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Definitions:

Welded

The process of joining materials, usually metals or thermoplastics, by causing coalescence through heat, pressure, or both.

Outside Diameter

The outside diameter is the longest distance across the outer surface of a round object or pipe, measured from one point on the edge, through the center, to the opposite edge.

Wall Thicknesses

The specified thickness of the wall of a part, critical in determining its strength and functionality.

Schedule

In the context of manufacturing or project management, it typically refers to a planned timeline for production or activities.