Match the Term with Its Definition

question 23

Essay

Match the term with its definition.
a.Accrual-basis accounting
b.Cash-basis accounting
c.Current ratio
d.Financial statements
e.Liquidity
f.Operating profit margin
g.Return on assets
h.Return on equity
-A measure of a business's profitability relative to the amount of its assets, determined by dividing operating profits by total assets.

---

Definitions:

Mixing Department

A specific section within a manufacturing process where ingredients or components are combined to produce a final product.

Overhead Costs

The indirect costs or expenses of running a business that are not directly tied to the production of goods or services, such as rent, utilities, and office supplies.

Plantwide Overhead Rate

A single overhead absorption rate calculated to allocate all manufacturing overhead costs uniformly across all products.

Machine Hours

A measurement of production time, indicating the total hours that machinery has been operated.