Match the Term and the Explanation

question 6

Essay

Match the term and the explanation.There are more definitions than terms.
TERM
1._____ Cash Basis
2._____ Net Profit Margin
3._____ Unadjusted Trial Balance
4._____ Prepaid Expense
5._____ Unearned Revenue
6._____ Revenue Recognition Principle
7._____ Expense Recognition Principle
DEFINITION
A.Reported when a company sells goods or services in the ordinary course of business for more than it costs to produce.
B.Reporting expenses and revenue according to the time the underlying activities occur.
C.A list of account balances when the accounts do not yet include all revenues and expenses.
D.The concept that expenses should be reported at the same time as the related revenue.
E.The principle that changes in assets must be matched by changes in liabilities and equity.
F.Also known as net assets,this is the value of assets minus liabilities.
G.An indication that a company has already paid a cost not yet incurred.
H.A company's policy on when to report revenue in the financial statements.
I.Reporting expenses and revenues according to the time the money is paid or received.
J.A liability account indicating customers have already paid for services not yet rendered.
K.A ratio that indicates the percent of each revenue dollar that is left over after covering costs and expenses.

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Definitions:

Indirect Request Pattern

A communication technique where requests or suggestions are made in a less direct and more polite manner, often used to avoid confrontation or to be more socially graceful.

Social Media

Sites and platforms designed for users to produce and share their own content or to be involved in social networking.

Television Advertising

The use of TV commercials to promote products, services, or ideas to a wide audience through visual and auditory messaging.

Reports

Documents or presentations that organize and present data and findings on specific topics for analysis or decision-making.