Use the Following Two Columns of Items to Answer the Matching

question 51

Short Answer

Use the following two columns of items to answer the matching questions below:
-current liabilities
A)planning for insurance, investing, financing, and retirement
B)amounts owed that are due in less than one year
C)cash, checking account, and money market account
D)stocks, bonds and mutual funds
E)home, car, furniture
F)assets less liabilities

• A)planning for insurance, investing, financing, and retirement
• B)amounts owed that are due in less than one year
• C)cash, checking account, and money market account
• D)stocks, bonds and mutual funds
• E)home, car, furniture
• F)assets less liabilities

---

Definitions:

Inventory Balance

The quantity of goods or materials on hand at a specific point in time.

FIFO Method

"First In, First Out," an accounting method for valuing inventory where the first items placed in inventory are considered sold first.

Ending Inventory

The total value of all unsold goods held by a company at the end of an accounting period.

Month End Inventory

Describes the total value of all inventory held by a business at the end of a month, used for accounting and reporting purposes.