Listed Below Are Five Terms Followed by a List of Phrases

question 111

Multiple Choice

Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term.
-Restriction of retained earnings

• A)Similar to an S corporation, but no limit on number of owners.
• B)Net income as a percentage of average book value.
• C)Paid-in capital and/or retained earnings affected when sold.
• D)Preferred practice is to disclose in the notes to the financial statements.
• E)Used in evaluating stock performance.

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Definitions:

State Attorneys General

Chief legal officers of their respective states, responsible for representing the public interest and enforcing the law.

Consumer Protection

Laws and measures designed to safeguard buyers of goods and services against unfair practices in the marketplace.

Point Source Pollution

Pollution that originates from a single, identifiable source or location, such as a pipe, ditch, ship, or factory smokestack.

Nonpoint Source Pollution

Pollution that does not originate from a single, identifiable source, but rather comes from many diffuse sources, such as agricultural runoff or automobile exhaust.