MATCHING Identify the Letter of the Choice That Best Matches the the Phrase

question 66

Multiple Choice

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
-The standard audio file format used by Sun, UNIX, and Java

• A)AIFF
• B)MP3
• C)AVI
• D)QuickTime
• E)AU
• F)MP4
• G)WAV
• H)Windows Media
• I)RealAudio
• J)Flash Video

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Definitions:

Temporary Accounts

Accounts that are closed at the end of each accounting period, including revenue, expense, and withdrawal accounts.

Zero Balances

Accounts in financial statements that have no outstanding balance or value at a given point in time.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances in temporary accounts to permanent accounts, preparing the books for the next accounting period.

Adjusting Entries

Entries in the books of accounts made during the final part of an accounting cycle to distribute profits and costs to their rightful period.