Match the Terms with the Definitions

question 25

Multiple Choice

Match the terms with the definitions.

-A formal written promise to pay a supplier or lender a specified sum of money at a definite future time.

• 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:

Wells Cathedral

An impressive Gothic cathedral located in Wells, Somerset, England, known for its distinctive architectural features and historical significance.

Edward II

A King of England from 1307 until he was deposed in January 1327, known for his military struggles, political conflicts, and relationships with his nobles.

Reliquary of the Three Kings

A historic and highly decorated container, often found in Christian settings, said to hold the relics of the Biblical Magi.

Nicholas of Verdun

A notable goldsmith and enameler from the Middle Ages, celebrated for his intricate work in creating religious art pieces in the 12th century.