Use the Following Two Columns of Items to Answer the Matching

question 18

Short Answer

Use the following two columns of items to answer the matching questions below:
-debit card
A)automatically deducts an amount from a checking account
B)extends the payment time through credit

• A)automatically deducts an amount from a checking account
• B)extends the payment time through credit

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Definitions:

Adjusting Entry

An accounting record made at the end of an accounting period to allocate income and expenditure to the correct period.

Physical Count

Physical count refers to the actual counting of inventory items in a warehouse or store to verify stock levels.

Depreciation

An approach to apportioning the value of a tangible resource over the period it is expected to be used.

Market Value

The current price at which an asset or service can be bought or sold in the marketplace, which can fluctuate based on supply and demand dynamics.