Match the Following Terms with Their Correct Definition

question 137

Multiple Choice

Match the following terms with their correct definition.
-An account used to record any discrepancies between the cash records and the actual amount of cash received

• A)Cash equivalents
• B)Cash over and short
• C)Operating cycle
• D)Petty cash

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Definitions:

Deferred Annuity

An insurance contract in which payment of annuities is delayed to a future date.

Compounded Annually

The process where interest is calculated and added to the principal amount once every year, leading to an increase in the interest amount for the following year.

Deferral Period

A set period during which payments of principal or interest on a loan are temporarily delayed.

Perpetual Scholarship

A scholarship fund that provides financial aid indefinitely, usually through an endowment that generates interest used to fund the scholarship.