Match Each Term to Its Definition

question 219

Multiple Choice

Match each term to its definition.
-Purchase Order

• A)Sent by the vendor after the inventory has been shipped to the purchaser.
• B)Sent to the vendor when goods are ordered.
• C)Prepared by the purchaser when the goods are received.
• D)Sent to the vendor after all approving documents have been submitted.

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Definitions:

Capital Account

An account recording the capital contributions of owners and investors, along with retained earnings and long-term debt.

Noncash Assets

Assets that are not in the form of cash or cash equivalents, such as property, plant, and equipment.

Share Income

Share Income describes the earnings attributed to shareholders from their investment in shares, typically expressed through dividends.

Partnership Terminated

The dissolution of a business partnership through the exit of one or more partners or by mutual agreement.