Match the Terminology with the Description by Entering the Proper

question 92

Essay

Match the terminology with the description by entering the proper letter in the space to the left. A. Credits
B. Share Capital
C. Cost principle
D. Transaction
E. Debits
F. Liability
G. Statement of financial position
H. Primary objective of external financial reporting
I. Separate-entity assumption
J. Retained earnings
K. As at December 31, 20X1
L. For the period ended December 31, 20X1
M. None of the above is correct ____
1. Increase assets and decreases shareholders'' equity. ____
2. An exchange between an entity and another party. ____
3. Normal balances for liabilities. ____
4. To provide useful economic information about a business to help external parties mak e sound financial decisions. ____
5. Accounting assumption that requires assets to be recorded at their cash equivalent cost. ____
6. Cumulative earnings that have not been distributed to the owners. ____
7. A debt owed by the entity. ____
8. Statement of financial position. ____
9. Account for a business separate from its owners. ___
10. Dating of the statement of financial position (20X1).

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Definitions:

Placebo Drug Studies

Research studies that investigate the effect of a treatment, in which some participants receive a placebo, or inert substance, to compare against the effects of actual drugs.

Experimental Group

A group of subjects in an experiment who are exposed to the variable under investigation, used to determine the effect of a treatment or intervention.

Subject Bias

The tendency of individuals participating in a research study to act or respond in ways they believe correspond with what the researchers are looking for.

Placebo Effect

The beneficial effect on an individual resulting from a placebo treatment, which arises from the patient's expectations rather than the treatment itself.