Match the Terms with the Definitions

question 15

Multiple Choice

Match the terms with the definitions.

-An economic event that has a direct impact on the business.

• 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:

Linear Model

A mathematical representation of a relationship between two or more variables where the relationship is modeled as a straight line.

Kilowatt-Hours

A unit of energy equivalent to one kilowatt (1 kW) of power expended for one hour of time, commonly used to measure electricity consumption.

Square Foot

A unit of area measurement equal to a square that is one foot on each side, commonly used in the United States.

Selling Price

The amount of money for which something is sold, the price at which a seller is willing to sell a product or service.