Match the Following Terms with the Appropriate Definition

question 200

Multiple Choice

Match the following terms with the appropriate definition.
-     Accrual basis accounting 

• A) The expense created by allocating the cost of plant and equipment to the periods in which they are used 
• B) The principle that requires expenses to be reported in the same period as the revenues that were earned as a result of the expenses 
• C) Items paid for in advance of receiving their benefits 
• D) Allocates equal amounts of an asset's cost (less any salvage value) to depreciation expense during its useful life 
• E) The accounting system that recognizes revenues when earned and expenses when incurred 
• F) A principle that assumes that an organization's activities can be divided into specific time periods such as months, quarters or years 
• G) Revenues earned in a period that are both unrecorded and not yet received in cash or other assets 
• H) Net income divided by net sales 
• I) The accounting system where revenues are recognized when cash is received and expenses are recorded when cash is paid 

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Definitions:

Jenn's iPhone

Likely a personalized name for a specific iPhone device, indicating ownership or usage by an individual named Jenn.

NAS Device

A Network Attached Storage device, which is a file-level storage server connected to a computer network providing data access to a group of clients.

LTE

LTE, or Long-Term Evolution, represents a standard for wireless broadband communication for mobile devices and data terminals, aimed at increasing speed and capacity.

Wi-Fi

A technology that allows devices to connect to the internet wirelessly using radio waves within a short range.