Match the Terms with the Definitions

question 51

Multiple Choice

Match the terms with the definitions.
-Accounts that do not accumulate information across accounting periods but are closed,such as the drawing account and all income statement accounts.

• A)account form of balance sheet
• B)accounting cycle
• C)classified balance sheet
• D)closing process
• E)current assets
• F)current liabilities
• G)Income Summary
• H)long-term liabilities
• I)operating cycle
• J)permanent accounts
• K)post-closing trial balance
• L)property, plant, and equipment
• M)report form of balance sheet
• N)temporary accounts

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Definitions:

Preserves Formatting

The maintenance of text layout and visual elements when content is transferred or displayed in different applications or devices.

Ideal Length

This refers to the most suitable or optimal extent or duration of something based on its context or objectives, such as a document, presentation, or video.

Less Than Five Years

The phrase "less than five years" typically refers to a time period or experience duration that is shorter than five years.

One Page

Referring to a document or presentation that is condensed onto a single page to ensure clarity and brevity.