Match the Term to the Appropriate Definition

question 201

Multiple Choice

Match the term to the appropriate definition.There are more definitions than terms.
-Sales Returns & Allowances

• A)Presents important subtotals,such as gross profit,to help distinguish core operating results from other,less significant items that affect net income.
• B)A reduction in the cost of inventory purchases associated with unsatisfactory goods.
• C)Refunds and price reductions given to customers after goods have been sold and found unsatisfactory.
• D)A ratio indicating the percentage of profit earned on each dollar of sales,after considering the cost of products sold.
• E)Net sales minus cost of goods sold.It is a subtotal,not an account.
• F)A sales price reduction given to customers for prompt payment of their account balance.
• G)The sum of beginning inventory and purchases for the period.
• H)A cash discount received for prompt payment of a purchase on account.
• I)Assets acquired for resale to customers.
• J)The cost of inventory lost to theft,fraud,and error.

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Definitions:

Esteem Needs

in Maslow's hierarchy of needs, the fourth level, including self-esteem, confidence, achievement, respect of others, and respect by others.

Safety Needs

According to Maslow's hierarchy, these are the second tier of human needs, including security and protection from physical and emotional harm.

Physiological Needs

Basic elements necessary for human survival and function, such as air, water, food, shelter, and sleep.

Self-Actualization Needs

The highest level in Maslow's hierarchy of needs, representing the pursuit of realizing one's full potential and seeking personal growth and peak experiences.