Match the Terms with the Definitions $T$ Account
J) Trial Balance

question 84

Multiple Choice

Match the terms with the definitions.

-The normal balance of liability,owner's equity,and revenue accounts.

• A) balance
• B) credit
• C) credit balance
• D) debit
• E) debit balance
• F) double-entry accounting
• G) footings
• H) normal balance
• I) \( T \) account
• J) trial balance

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Definitions:

Voting Common Stock

Shares that give the shareholder the right to vote on corporate matters, such as electing the board of directors, at shareholder meetings.

Long-Term Investments

Assets that a company intends to hold for more than one year, such as stocks, bonds, real estate, and other securities.

Accounting Period

A specific period of time used for financial reporting purposes, which could be monthly, quarterly, or annually.

Voting Common Stock

Shares of a company that grant the shareholder voting rights in corporate decisions, typically related to the election of the board of directors.