Match the Following Terms with the Appropriate Definition

question 145

Multiple Choice

Match the following terms with the appropriate definition.
-Items paid for in advance of receiving their benefits; recorded as an asset when purchased and expensed when used.

• A)Adjusting entry
• B)Unadjusted trial balance
• C)Prepaid expenses
• D)Natural business year
• E)Accrued expenses
• F)Adjusted trial balance
• G)Report form balance sheet
• H)Accounting period
• I)Profit margin
• J)Contra account