Match Each of the Following Terms to Its Definition

question 50

Multiple Choice

Match each of the following terms to its definition:
I. resolution
II. digital
III. analog
IV. CCD
V. 35-mm

• A) analog photos
• B) number of data points used to capture an image
• C) data encoded as zeros and ones
• D) electronic sensor used in digital cameras
• E) continuous sound or light waves

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Definitions:

Financial Statement Impact

The effect of business transactions and decisions on the financial statements, reflecting on the company's financial health and performance.

Inventory Costing

Inventory costing is the method used to assign costs to inventory items, determining the cost of goods sold and ending inventory value.

Net Income

The final amount a company earns post all deductions, including expenses and taxes, from its revenue.

Gross Profit Method

An inventory estimating method that calculates cost of goods sold based on gross profit margin, used for interim financial statements or when inventory is destroyed.