Use the Following Two Columns of Items to Answer the Matching

question 52

Multiple Choice

Use the following two columns of items to answer the matching questions below:
-tax return

• A)interest earned from savings and debt securities
• B)forms used to report interest and deductions
• C)reportable income from any source
• D)earnings from stocks
• E)selling an asset for more than it cost

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Definitions:

Adjusting Entry

An accounting record made at the conclusion of a financial period to distribute revenue and expenses to the correct period of their occurrence.

Vertical Analysis

A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets, liabilities, and equity) in a balance sheet is represented as a proportion of the total account.

Income Statements

A financial report summarizing a company's revenues, expenses, and profits over a specified period.

Trends

General directions in which something is developing or changing, often identified through the analysis of data over periods of time.