Match the Following Terms with Their Correct Definition

question 37

Multiple Choice

Match the following terms with their correct definition.
-term used to refer to the right side of an account

• A)account
• B)accounting cycle
• C)chart of accounts
• D)cost vs. benefit
• E)credit
• F)debit
• G)event
• H)general ledger
• I)journal
• J)trial balance

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Definitions:

Marginal Utility

The additional satisfaction or benefit (utility) a consumer gains from consuming one more unit of a good or service.

Supply and Demand

The fundamental economic model describing the balance between the quantity of goods available and the desire of buyers for it.

Marginal Utility

The additional satisfaction a consumer gains from consuming one more unit of a good or service.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision or choice.