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:

Partnership Obligations

The duties and responsibilities that partners in a business partnership have towards each other, the partnership itself, and third parties, including financial and fiduciary duties.

Dissociated

Pertaining to a member who has ended their involvement with or participation in a business entity.

Dissociation

The process by which a member of a partnership or an entity withdraws or is removed from the entity, causing changes in the entity's structure or operations.

Partnership Term

The duration for which a partnership agreement is set to exist, which can be indefinite or fixed, as specified in the partnership agreement.