Match the Terms with the Definitions

question 92

Multiple Choice

Match the terms with the definitions.
-The work sheet columns that show the amounts that will be reported in the statement of owner's equity and balance sheet.

• A)Adjusted Trial Balance columns
• B)Adjusting entries
• C)Balance Sheet columns
• D)book value
• E)contra-asset
• F)depreciable cost
• G)depreciation
• H)fiscal year
• I)historical cost principle
• J)Income Statement columns
• K)market value
• L)matching principle
• M)plant assets
• N)salvage value
• O)straight-line method
• P)undepreciated cost
• Q)useful life
• R)work sheet

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Definitions:

Trade Discount

A reduction in the listed price of goods or services provided by the seller to those in the same trade or industry.

Retail List Price

The manufacturer's suggested retail price for a product, which is often higher than the actual selling price in stores.

Best-Selling Grass Seed

A type of grass seed that has achieved high sales volumes and popularity due to its quality, resilience, or suitability for various climates or soils.

Noncumulative Quantity Discount

A price reduction offered on a single purchase order, not based on the quantity ordered over time.