Accounting Terminology
Listed Below Are Nine Technical Accounting Terms Emphasized

question 25

Essay

Accounting terminology
Listed below are nine technical accounting terms emphasized in this chapter:
Each of the following statements may (or may not) describe one of these technical terms. In the space provided below each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms.
____ (a.) An account with a credit balance that is an offset against an asset account.
____ (b.) A contra-account.
____ (c.) A liability to customers who have paid in advance.
____ (d.) The estimated current value of an asset.
____ (e.) Entries made to achieve the goals of accrual accounting when revenue or expense transactions span more than one accounting period.
____ (f.) An asset that will expire shortly.
____ (g.) Revenue that has been earned, but not yet received.
$$\begin{array} { | l | l | l | } \hline \text { Adjusting entries } & \text { Unearned revenue } & \text { Accrued expense } \\\hline \text { Accumulated depreciation } & \text { Accrued revenue } & \text { Prepaid expense } \\\hline \text { Materiality } & \text { Contra-asset } & \text { Book value } \\\hline\end{array}$$

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Definitions:

Health Care

The maintenance or improvement of health via the prevention, diagnosis, treatment, recovery, or cure of diseases, illnesses, injuries, and other physical and mental impairments in people.

Dating Violence

A pattern of abusive or coercive behaviors used by one individual to exert power and control over another in the context of a dating relationship.

Gender

A social construct referring to roles, behaviors, activities, and attributes that a given society considers appropriate for men and women.

Per Capita

A statistical measure that divides the total amount of something by the number of people in a population, often used to indicate average per person.