Match the Following Terms with the Appropriate Definition

question 322

Multiple Choice

Match the following terms with the appropriate definition.
-Generally accepted accounting principles

• A)The governmental agency that has the legal authority to establish accounting rules.
• B)Prescribes that assets and services to be recorded initially on a cash or equal-to-cash basis.
• C)A report that describes a company's financial position at a point in time.
• D)A financial statement that reports the changes in equity over the reporting period; including increases from net income and decreases from dividends or net losses.
• E)The concepts and rules that govern financial accounting.
• F)A report that identifies cash receipts and cash payments over a period of time.
• G)A principle that requires the information in financial statements to be supported by independent unbiased evidence.
• H)An independent group consisting of individuals from many countries that identify preferred accounting practices.
• I)Presumes that the life of a company can be divided into periods for reporting purposes.
• J)Prescribes that a company report the details behind financial statements that would impact user decisions.

---

Definitions:

Clastic Rock

is a type of sedimentary rock that is composed of fragments of pre-existing rocks.

Human-Made

Created, caused, or influenced by humans rather than occurring in nature; synthetic or artificial.

Crystalline Solid

A solid material whose constituents, such as atoms, molecules, or ions, are arranged in an orderly repeating pattern.

Volcanic Glass

A type of rock that forms when lava cools too quickly for crystals to form, resulting in a smooth, glassy texture.