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:

Supply Chain's Responsiveness

The ability of a supply chain to quickly adapt to changes in demand, supply, or environmental conditions.

Optimal Quantity

The most efficient amount of stock or product to order or hold to minimize costs and meet demand.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of values.

Level of Availability

The degree to which a system, service, or product is operable and accessible when required for use.