Match the Following Terms with Their Definitions

question 74

Multiple Choice

Match the following terms with their definitions.
-Accounts payable

• A)Uses a base year
• B)Inventory and prepaid expenses are subtracted
• C)A liability
• D)Net sales ÷ total assets
• E)Actual sale after returns on discounts
• F)Current assets ÷ current liabilities
• G)What we owe creditors
• H)Data placed side by side
• I)Cash, supplies
• J)Obligations due within one year
• K)Cost of goods for resale
• L)Obligations that are not due for at least one year
• M)Total this period is compared by amount of percent to same total last period
• N)Part of stockholders' equity
• O)What customers owe
• P)Dollars not shown
• Q)Paid in advance
• R)Profit
• S)Revenues and expense for a specific period of time
• T)Prepared as of a particular date
• U)Beginning inventory plus new purchases - ending inventory
• V)True cost of purchases
• W)Includes no plant and equipment assets
• X)Sales - cost of goods sold
• Y)Each liability and equity is analyzed as a percent of the total

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Definitions:

Employer

An individual or organization that hires and pays people to work for them under a contract of employment.

Intellectual Property

Intellectual property rights arising from creative endeavors in the industrial, scientific, literary, and artistic domains.

Information Technology

The study or use of systems (especially computers and telecommunications) for storing, retrieving, and sending information.

Copyright Board

An agency responsible for overseeing copyright licenses, tariffs, and related issues in a specific geographic area.