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

---

Definitions:

Amistad

The name of a Spanish slave ship notably involved in a revolt by African captives in 1839, leading to a legal battle in the United States Supreme Court.

Supreme Court

The highest judicial body in a country, typically having the ultimate authority over all other courts within the nation's jurisdiction.

Slave Rebellion

A collective uprising by enslaved individuals seeking to gain freedom and resist their conditions.

Harriet Tubman

An iconic African American abolitionist and political activist known for her role in the Underground Railroad.