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:

Disruptive Innovation

An innovation that significantly alters the way that businesses operate, often displacing established market leaders and creating new industry standards.

Gaming Console

An electronic device designed specifically for playing video games that connects to a display device like a television.

Sales Increased

A situation where the number of products sold or services provided by a company grows over a specific period.

Human Sustainability

The practice of ensuring human rights, well-being, and equitable opportunities are maintained for future generations.