Match the Following Terms with Their Definitions

question 117

Multiple Choice

Match the following terms with their definitions.
-Merchandise inventory

• 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:

Indirect Quotation

A paraphrase or summary of someone else's words without directly quoting them, often introduced by a phrase like "he said that..." or "according to..."

Quotation Marks

Punctuation marks used in pairs to indicate the beginning and end of a quotation or a direct speech within a text.

Plagiarism

The act of using someone else's work or ideas without giving proper credit, thereby presenting it as one's own.

Summarizing

The act of briefly presenting the main points or essence of a longer text or speech in a concise form.