Match the Terms with the Definitions

question 21

Multiple Choice

Match the terms with the definitions.
-A receipt that is prepared for every payment from the petty cash fund.

• A)outstanding checks
• B)cash
• C)petty cash voucher
• D)automated teller machines
• E)change fund
• F)internal control
• G)credit memos
• H)debit memos

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Definitions:

Takeover Defense

Strategies employed by a target company to prevent or discourage unwanted acquisition attempts.

Unused Net Operating Losses

Tax deductions that occur when a company's allowable tax deductions are greater than its taxable income within a tax period, which can be carried over to reduce taxable income in future years.

Tax Gains

Refers to the profit that is taxable after selling an asset at a price higher than its purchase price.

Unused Debt Capacity

The additional amount a business or individual can borrow without harming creditworthiness, based on current financial obligations.