Match the Following Terms with the Appropriate Definition

question 66

Multiple Choice

Match the following terms with the appropriate definition.
-Source documents

• A)Verifiable evidence that transactions have occurred used to record accounting information.
• B)Decrease in an asset, dividend and expense account, and increase in a liability, common stock and revenue account; recorded on the right side of a T-account.
• C)An increase in an asset and expense account, and decrease in a liability, common stock,
• and revenue account; recorded on the left side of a T-account.
• D)A company's chronological record of each transaction in one place that shows debits and credits for each transaction.
• E)An accounting system where each transaction affects and is recorded in at least two
• accounts; the sum of the debits for each entry must equal the sum of its credits.
• F)The process of transferring journal entry information to the ledger accounts.
• G)A record of the increases and decreases in a specific asset, liability, equity, revenue, or
• expense item.
• H)A record containing all the accounts of a company and their balances.
• I)A list of accounts and their balances at a point in time.
• J)A representation of a ledger account used to understand the effects of transactions.

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Definitions:

Illegal Activity

Actions that are forbidden by law or statute, encompassing various crimes and infringements that vary by jurisdiction.

Federal Employees Political Activities Act

A U.S. law that restricts political activities of federal employees to ensure a nonpartisan civil service.

Spoils System

A practice where a political party, after winning an election, gives government jobs to its supporters, friends, and relatives as a reward for working toward victory, rather than hiring based on merit.

Hatch Act

A federal law in the United States that prohibits employees in the executive branch of the federal government, except the president, vice-president, and certain designated high-level officials, from engaging in some forms of political activity.