Match the Terms with the Definitions

question 27

Multiple Choice

Match the terms with the definitions.
-An account with a credit balance that is deducted from the related asset account on the 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

Differentiate between liabilities and equity and understand their roles within the accounting equation.

Explain the impact of the going concern principle on asset valuation.

Identify the users of accounting information and understand the various purposes for which it is used.

Describe the activities presented in the statement of cash flows and understand its importance.

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Definitions:

Amniocentesis

A medical procedure used in prenatal diagnosis, involving the extraction of a small amount of amniotic fluid to test for chromosomal abnormalities and infections.

CVS

Chorionic Villus Sampling, a prenatal test that involves taking a sample of the chorionic villi from the placenta to test for chromosomal abnormalities.

Spontaneous Abortion

A medical term for a miscarriage, referring to the natural loss of a pregnancy before the fetus can survive outside the womb, typically before 20 weeks of gestation.

Amniocentesis

Amniocentesis is a medical procedure used in prenatal diagnosis, where a small amount of amniotic fluid is sampled from the amniotic sac surrounding a developing fetus to test for chromosomal abnormalities and infections.