Match the Following Terms with Their Correct Definition

question 25

Short Answer

Match the following terms with their correct definition.
a.Account
f.Debit
b.Accounting cycle
g.Event
c.Chart of accounts
h.General ledger
d.Cost vs. benefit
i.Journal
e.Credit
j.Trial balance
-The sequence of procedures used by companies to transform the effects of business activities into financial statements.

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Definitions:

Bargaining Unit

A group of employees with a clear and identifiable community of interests who are represented by a single labor union in negotiations with employers.

Labour Relations Board

A governmental authority that oversees and resolves disputes involving labor and management practices.

Collective Bargaining

The process by which employers and a group of employees negotiate labor contracts concerning wages, hours, benefits, and other working conditions.

Vicarious Liability

The liability at law of one person for the acts of another.