Match Each Term with Its Definition

question 17

Multiple Choice

Match each term with its definition.
-Demonstrates the profit and expenses for a given month and also includes year-to-date information for a given year

• A)accounting formula
• B)accounts receivable ratio formula
• C)gross collection ratio formula
• D)net collection ratio formula
• E)cost ratio formula
• F)assets
• G)write-offs
• H)liabilities
• I)accounts receivable
• J)income statement

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Definitions:

Cost-cutting Proposal

A strategy or plan proposed to reduce expenses in order to improve profitability.

Reduction in Costs

Actions or strategies implemented to decrease expenses and improve profitability.

Increase in Sales

A rise in the quantity or dollar value of a company's sales over a certain period, indicating growth or improvement in market demand.

Maintenance Contract

An agreement where one party commits to maintain an asset owned by another party, typically in exchange for a fee.