Match the Term and Its Definition

question 58

Multiple Choice

Match the term and its definition.There are more definitions than terms.
-Accrual Adjustment

• A)Also known as balance sheet accounts.
• B)Lists the balances of all temporary and permanent accounts to provide a check on the equality of the debits and credits.
• C)Lists the balances of all accounts to check that revenues equal expenses.
• D)The level of profit prior to considering income tax.
• E)An account that is paired with another account and acts to reduce its book value.
• F)Converts some of an asset's or a liability's book value into an expense or a revenue.
• G)An account that must have a zero balance after closing entries have been made.
• H)Adds new values into the balance sheet and income statement accounts.
• I)The amount at which an asset or liability is reported in the financial statements.
• J)Lists the balances of all permanent accounts to check that debits equal credits.
• K)A journal entry that transfers net income or loss to the Retained Earnings account.
• L)When revenue minus expenses is a negative number.
• M)Entries made to update existing accounts and record new events.

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Definitions:

Face-To-Face Meeting

A meeting in which participants interact directly and in person, as opposed to virtual or remote meetings.

Reduce Costs

Measures or strategies implemented to decrease expenses and financial outlays.

Listen Effectively

The skill of paying close attention to someone's words, understanding the message being conveyed, and responding appropriately, which is crucial for effective communication.

Strengthen Relationships

The process of improving and deepening bonds between individuals or groups through effective communication, trust-building, and shared experiences.