Match the Term and the Definition

question 102

Multiple Choice

Match the term and the definition.There are more definitions than terms.

-1 Carrying value

• A)When revenue minus expenses is a negative number.
• B)Adds new values into the balance sheet and income statement accounts.
• C)Also known as transportation and storage expense.
• D)An income account that is only open long enough to record one transaction.
• E)The level of profit before considering income tax.
• F)A journal entry that eliminates an account from the chart of accounts.
• G)Lists the balances of all accounts to check that revenues equal expenses.
• H)The amount at which an asset or liability is reported in the financial statements.
• I)An account that is paired with another account whose book value it reduces.
• J)Lists the balances of all accounts to check that debits equal credits.
• K)The number of years that a company has to pay back its loans and other financing.
• L)A journal entry that transfers net income or loss to the retained earnings account.
• M)Converts some of an asset's or liability's book value into an expense or revenue.
• N)When a company lowers the price of a product.
• O)An account that must have a zero balance after closing entries have been made.
• P)The level of revenue a company has before it pays administrative expenses.

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Definitions:

Fertilized Ova

The result of a sperm cell and an egg cell uniting, marking the beginning of embryonic development.

Scrotum

A pouch of skin containing the testicles and parts of the spermatic cord, acting as a climate control system for the testes.

Urogenital Aperture

The external opening of the urinary and genital systems, especially in animals where these systems share a common pathway.

Labia Majora

The larger, outer folds of skin that enclose and protect the other external reproductive organs in females.