Match the Terms with the Definitions

question 58

Multiple Choice

Match the terms with the definitions.

-The excess of total revenues over total expenses for the period.

• 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:

Environmental Issues

Concerns related to the degradation of the environment, including pollution, climate change, and habitat destruction.

NEPA

The National Environmental Policy Act (NEPA) is a United States environmental law that promotes the enhancement of the environment and established the President's Council on Environmental Quality (CEQ).

Major Issues

Significant problems or challenges that are of widespread concern and require resolution or discussion.

Montreal Protocol

An international treaty designed to protect the ozone layer by phasing out the production of numerous substances that are responsible for ozone depletion.