Match the Following Terms with Their Definitions

question 93

Multiple Choice

Match the following terms with their definitions.
-Current liabilities

• A)Uses a base year
• B)Inventory and prepaid expenses are subtracted
• C)A liability
• D)Net sales ÷ total assets
• E)Actual sale after returns on discounts
• F)Current assets ÷ current liabilities
• G)What we owe creditors
• H)Data placed side by side
• I)Cash, supplies
• J)Obligations due within one year
• K)Cost of goods for resale
• L)Obligations that are not due for at least one year
• M)Total this period is compared by amount of percent to same total last period
• N)Part of stockholders' equity
• O)What customers owe
• P)Dollars not shown
• Q)Paid in advance
• R)Profit
• S)Revenues and expense for a specific period of time
• T)Prepared as of a particular date
• U)Beginning inventory plus new purchases - ending inventory
• V)True cost of purchases
• W)Includes no plant and equipment assets
• X)Sales - cost of goods sold
• Y)Each liability and equity is analyzed as a percent of the total

Explore the relationship between natural resources and economic development.

Examine the implications of international trade and remittances on developing countries.

Recognize the importance of institutional elements in supporting economic activities.

Understand the strategic motives and financial implications of mergers and acquisitions.

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Definitions:

Compensation

Payment or benefit given to someone, typically as a recompense for loss, injury, or suffering.

Model Rules

Standardized or ideal guidelines and protocols designed to be adapted and employed by various organizations or professions.

ABA

Stands for the American Bar Association, an organization of lawyers and law students focused on improving the legal profession.

Ethical Rules

Guidelines established by legal authorities to govern the conduct of lawyers and legal professionals.