Listed Below Are Ten Terms Followed by a List of Phrases

question 126

Multiple Choice

Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms.Match each phrase with the correct term by placing the letter designating the term in the space provided.
-____ A list of only permanent accounts and their balances prepared to prove that total debits equal total credits.

• A)Accrued expenses
• B)Adjusted trial balance
• C)Adjusting entries
• D)Depreciation expense
• E)Balance sheet
• F)Prepaid expenses
• G)Expenses
• H)Post-closing trial balance
• I)Income statement
• J)Trial balance

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Definitions:

Preemptive Right

A shareholder's right to buy new shares in a company before they are offered to the public, to maintain their proportionate ownership in the company.

Preemptive Right

The right granted to existing shareholders to purchase additional shares before the company offers them to the public, to maintain their proportional ownership.