Match the Terms with the Definitions

question 20

Multiple Choice

Match the terms with the definitions.
-Deposits that have not reached or been recorded by the bank before the bank statement is prepared.

• A)restrictive endorsement
• B)bank reconciliation
• C)bank statement
• D)blank endorsement
• E)canceled checks
• F)petty cash fund
• G)payee
• H)check
• I)check stub
• J)petty cash payments record
• K)NSF checks
• L)deposit ticket
• M)deposits in transit
• N)drawee
• O)drawer
• P)electronic funds transfer
• Q)endorsement
• R)magnetic ink character recognition code

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Definitions:

Variable

An element that can change or vary, often used in the context of variable costs in business or variable factors in research.

Fixed Production Costs

Fixed costs are business expenses that remain constant regardless of the level of production or sales.

Absorption Costing

An accounting method that includes all manufacturing costs, both variable and fixed, in the cost of a product.

Net Operating Income

Earnings generated from a company's regular business operations, excluding deductions for interest and taxes.