Match the Following Terms with Their Definitions

question 79

Multiple Choice

Match the following terms with their definitions.
-Comparative statements

• 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:

Union

An organization of workers formed to protect and advance their rights and interests; often related to labor rights and collective bargaining.

Civil Liberties

Individual rights protected by law from governmental infringement, including freedom of speech, right to privacy, and the right to a fair trial.

Confederacy

Refers specifically to the Confederate States of America, a collection of eleven southern states that seceded from the United States in 1861, leading to the American Civil War.

Union

Referring to the Northern states during the American Civil War which were against the seceding Southern states forming the Confederacy.