Match the Following Definitions with the Appropriate Terms

question 176

Multiple Choice

Match the following definitions with the appropriate terms.
-An income statement format that shows detailed computations of net sales and other costs and expenses,and reports subtotals for various classes of items.

• 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:

Goodwill

A measure of the intangible value of a company’s reputation and customer relations.

Communication

The process of exchanging information, ideas, or feelings between two or more parties through speech, writing, or other mediums.

Negative Information

Information that portrays an adverse or unfavorable situation, outcome, or condition.

Positive Emphasis

A communication strategy that focuses on positive aspects and strengths rather than negative issues.