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:

Demonstration

A presentation or exhibition of how a product or service works, often used as a sales tool to illustrate its benefits.

Solid-state Design

Refers to electronic systems or devices made from solid materials, without moving parts, utilizing semiconductors like transistors for operation.

Feature

Any physical characteristic of a product.