Match Each Definition with the Correct Term Below

question 92

Multiple Choice

Match each definition with the correct term below.
-Permanent accounts

• A)Used to determine that all temporary accounts have zero balances.
• B)The postponement of the recognition of an expense already paid.
• C)Accounts that begin each accounting period with a zero balance.
• D)Increases in stockholders' equity resulting from selling goods.
• E)Revenue that is received in advance of goods delivery or service performance.
• F)Accounts that carry their end-of-period balances into the next accounting period.
• G)The recognition of a revenue or an expense that has arisen but not been recorded during the accounting period.
• H)Decreases in stockholders' equity resulting from the cost of selling goods.
• I)Used after making adjusting journal entries to ensure that debits equal credits.
• J)Revenues that a company has earned by performing a service or delivering goods but for which no entry

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Definitions:

Business Regulation

The imposition of rules by government, aimed at influencing the operation and behavior of businesses within a society.

Administrative Body

A governmental agency or a non-governmental organization formally structured to regulate, oversee, and manage specific functions or tasks.

Licence Or Registration

A legal permission or document required by individuals or entities to operate or conduct certain types of business or activities.

Disclosing Reasons

The act of providing explanations or justifications for a decision or action, often in a formal or official context.