(Matching Organizational Characteristics with Different Types of Organizations

question 9

Short Answer

(Matching organizational characteristics with different types of organizations. )
Listed below are some identifying characteristics of organizations.Indicate with a check mark (Y)in the appropriate column(s)those characteristics that apply to each type of organization.Some characteristics may apply to more than one type of organization.

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Definitions:

Accumulated Depreciation Accounts

Balance sheet accounts representing the total depreciation of a company's fixed assets over their useful lives.

Liability Accounts

These accounts track what a company owes to others, such as loans, accounts payable, mortgages, and other debts.

Adjusting Entry

Journal entries made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Unearned Revenue

Money received by a company for goods or services yet to be delivered or performed, considered a liability until the obligation is fulfilled.