Match the Following Terms with the Appropriate Definitions:
A Cash

question 128

Essay

Match the following terms with the appropriate definitions:
A. Cash recerpts journal
B. Compatibility principle
C. Cost-benefit principle
D. Purchases journal
E. Sales journal
F. Segment margin
G. Information storage
H. Special journal
I. Controlling account
J. Schedule of accounts receivable
$\underline{\quad\quad\quad\quad\quad}$ 1. A measure of the profitability of a segment, calculated as segment operating income divided by segment average assets.
$\underline{\quad\quad\quad\quad\quad}$ 2. Any journal used for recording and posting transactions of a similas
$\underline{\quad\quad\quad\quad\quad}$ 3. The special journal that is used to record all receipts of cash.
$\underline{\quad\quad\quad\quad\quad}$ 4. An information system principle requiring that the benefits from an activity in an accounting information system outweigh the costs of that activity.
$\underline{\quad\quad\quad\quad\quad}$ 5. The component of an accounting system that keeps data in a form accessible to information processors.
$\underline{\quad\quad\quad\quad\quad}$ 6. A journal used to record sales of merchandise on credit.
$\underline{\quad\quad\quad\quad\quad}$ 7. A general ledger account, the balance of which (after posting) equals the sum of the balances of the accounts in a related subsidiary ledger
$\underline{\quad\quad\quad\quad\quad}$ 8. An information system principle requiring that an accounting information system conform with a company's activities, personnel and structure.
$\underline{\quad\quad\quad\quad\quad}$ 9. A journal used to record all purchases on credit
$\underline{\quad\quad\quad\quad\quad}$ 10. A list of each customer from the accounts receivable ledger with their balances and the total

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Definitions:

Delivery

The process of transferring goods from one party to another, completing the sale or fulfilling a term in a contract.

Acceptance

is the agreement to the terms of an offer, contract, or proposal, thus forming a binding contract between the parties.

Insurable Interest

A requirement that a person stands to suffer a financial loss or certain types of losses from the damage, loss, or destruction of the subject matter of the insurance policy.

Purchase Money Security Interest

A legal claim that allows a lender to repossess or foreclose on property if the borrower fails to pay back the loan used to purchase the property.