Match the Term and the Definition

question 127

Multiple Choice

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

-1 Net loss

• 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:

Orangutan

A genus of great apes native to Indonesia and Malaysia, known for their intelligence, long arms, and reddish-brown hair, living in tropical rainforests.

Gorilla

A large, primarily herbivorous ape native to the forests of central Sub-Saharan Africa.

Skulls

The bony structures forming the head in vertebrates, housing the brain and serving as attachments for facial muscles.

Biological Superiority

A controversial belief asserting that some races or ethnic groups are inherently superior to others based on genetic or physical traits.