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:

Adjusting Entries

Accounting records created at the close of a fiscal period to distribute revenues and expenses to the timeframe they genuinely transpired.

Reversed

In accounting, referring to the action of negating a previous transaction or entry to correct or adjust financial records.

Accrual Basis

An accounting method where income and expenses are recorded when they are earned or incurred, regardless of when the cash transactions occur.

Insurance Expense

The cost incurred by a business for its insurance policies, which is recorded as an expense on the income statement.