Match the Term and Its Definition

question 16

Multiple Choice

Match the term and its definition.There are more definitions than terms.
-Promissory Note

• A)The portion of Accounts Receivable that the company expects to collect.
• B)The time at which a loan must be repaid.
• C)An agreement by a borrower to repay the lending company with interest during a specified time period.
• D)The days of the year divided by the net sales revenue.
• E)A financial statement that shows the calculation of Bad Debt Expense for a company.
• F)Total money owed the company for sales made on credit.
• G)An account that is debited for the amount of credit sales estimated as uncollectible.
• H)A contra-asset account.
• I)The time at which a borrower must make annual interest payments.
• J)Net credit sales revenue divided by the average net receivables.
• K)Net credit sales revenue divided by the net income.
• L)The days of the year divided by the receivables turnover ratio.

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Definitions:

Mainstream Economics

a body of economic thought and theories that are widely accepted and practiced by economists, focusing on market structures, economic efficiency, and the role of government.

Economic Efficiency

The optimal allocation of resources where output is maximized for a given set of inputs, or the input cost is minimized for a certain level of output.

Unions

Organizations formed by workers from related fields that work for the collective welfare of their members, focusing on negotiating wage rates, work practices, and benefits.

U.S. Labor Law

The body of laws, regulations, and judicial decisions concerning the rights of workers, labor unions, and employers in the United States.