Match the Terms with the Definitions

question 7

Multiple Choice

Match the terms with the definitions.

-Withdrawals that reduce owner's equity as a result of the owner taking cash or other assets out of the business for personal use.

• A) account
• B) accounts payable
• C) accounts receivable
• D) accounting equation
• E) assets
• F) balance sheet
• G) business entity
• H) business entity concept
• I) business transaction
• J) drawing
• K) expenses
• L) income statement
• M) liability
• N) net income
• O) net loss
• P) notes payable
• Q) owner's equity
• R) revenues
• S) statement of owner's equity

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Definitions:

National Emphasis

A focus or priority placed on issues, policies, or initiatives that are considered of significant importance at a national level.

Competition

A situation in which two or more parties strive for a goal that cannot be shared, such as winning a race or achieving market dominance.

Success

The accomplishment of an aim or purpose, often recognized by societal standards and personal fulfillment.

Anxiety

A mental health disorder characterized by feelings of worry, anxiety, or fear that are strong enough to interfere with one's daily activities.