Match the Terms with the Definitions

question 16

Multiple Choice

Match the terms with the definitions.

-Generally supervises the work of accounting clerks,helps with daily accounting work,and summarizes accounting information.

• A) accountant
• B) accounting
• C) accounting derk
• D) analyzing
• E) auditing
• F) bookkeeper
• G) budgeting
• H) Certified Public Accountant
• I) classifying
• J)controller
• K) corporation
• L) cost accounting
• M) financial accounting
• N) generally accepted accounting principles
• O) internal auditing
• P) interpreting
• Q) manufacturing business
• R) merchandising business
• S) para-accountant
• T) partnership
• U) recording
• V) reporting
• W) service business
• X) sole proprietorship
• Y) summarizing
• Z) tax accounting

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Definitions:

Liability

The state of being responsible or legally obligated to settle a debt or fulfill a contractual agreement; also refers to any form of legal obligation.

Sole Proprietorship

A type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity.

Personal Loan

An unsecured loan provided by a financial institution based on the borrower's creditworthiness, typically used for personal expenses or consolidating debt.

Personal Income Tax

A tax levied on individuals or households based on the income they receive from work, investments, or other sources.