Match the Term with Its Definition

question 148

Multiple Choice

Match the term with its definition.(There are more definitions than terms. )
-dr

• A)The abbreviation for an item posted on the left side of a T-account.
• B)A balance sheet that has not yet been publicly released.
• C)A transaction that is triggered automatically merely by the passage of time.
• D)When a company becomes included in the Fortune 500.
• E)The account credited when cash is received in exchange for stock issued.
• F)The value of a company's public relations campaign.
• G)An event that has no effect on the balance sheet and is not recorded in the financial statements.
• H)A balance sheet that has assets and liabilities categorized as current vs.noncurrent.
• I)Amounts owed to suppliers for goods or services bought on credit.
• J)The abbreviation for an item posted on the right side of a T-account.
• K)An exchange or event that has a direct impact on a company's financial statements.
• L)Liabilities divided by assets.
• M)Another name for stockholders' equity or shareholders' equity.
• N)A method of recording a transaction in debit/credit format.
• O)The expression that assets must equal liabilities plus stockholders' equity.

---

Definitions:

Breach

The act of breaking or failing to observe a law, agreement, or code of conduct.

Buyer's Damages

Legal compensation sought by a purchaser when a seller fails to fulfill the terms of a contract, such as defects in goods or delays in delivery.

Defective Goods

Products that fail to meet quality or performance standards, often leading to consumer dissatisfaction or safety concerns.

Industry Value

The total market worth of a specific sector or industry, often calculated by combining the value of all involved companies and sales.