Match the Following Definitions with the Appropriate Terms

question 115

Multiple Choice

Match the following definitions with the appropriate terms.
-The expenses that support a company's overall operations and include costs related to accounting,human resource management and financial management.

• A)Single-step income statement
• B)Acid-test ratio
• C)Multiple-step income statement
• D)Inventory shrinkage
• E)FOB shipping point
• F)Selling expenses
• G)General and administrative expenses
• H)Merchandise inventory
• I)Trade discount
• J)FOB destination

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Definitions:

Contract Basis

Employment or work arrangement where an individual is hired for a specific job or project under agreed terms and conditions, without being made a permanent employee.

Bankruptcy Law

The body of federal law that governs bankruptcy proceedings. The twin goals of bankruptcy law are to protect a debtor by giving him or her a fresh start and to ensure that creditors competing for a debtor’s assets are treated fairly.

Specialties

Focus areas within a profession or field where practitioners have specific expertise and knowledge.

Formal Work Environment

an organizational setting that strictly adheres to a set of established protocols, rules, and hierarchies.