Match the Following Terms with Their Definitions

question 57

Multiple Choice

Match the following terms with their definitions.
-Net income

• 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

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Definitions:

Locked Cabinets

Secure storage units used to prevent unauthorized access to contents, often important for safety and confidentiality.

Password Protected

Secured with a combination of characters known only to the user and required for access.

Ethical

Relating to moral principles or the branch of knowledge dealing with these, especially as they apply to professional conduct.

Qualitative Research

A research methodology that explores and provides insights into different aspects of a problem or issue through non-numerical data, often using methods like interviews and observations.