Match the Following

question 136

Multiple Choice

Match the following.You may use a response once,more than once,or not at all.
-A single use plan of less scope and complexity than a program

• A)Single-use plan
• B)Program
• C)Project
• D)Standing plan
• E)Policy
• F)Standard operating procedure
• G)Rules and regulations

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Definitions:

Adjusting Entry

Journal entries made at the end of an accounting period to update accounts for accurate financial reporting.

Closing Entry

A journal entry made at the end of an accounting period to transfer temporary accounts to permanent accounts and prepare the books for the next period.

Real Account

Another term for permanent account in accounting, referring to accounts that are not closed at the end of the accounting period and carry their ending balance into the next period.

Nominal Account

A nominal account is a temporary financial account that shows the incomes, gains, expenses, or losses over an accounting period, and is reset to zero at the beginning of each new period.