Listed Below Are Ten Terms Followed by a List of Phrases

question 7

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.
-____ Assets created before the expense is recognized.

• 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:

Retained Earnings

Profits that a company has earned to date, less any dividends or other distributions paid to shareholders.

Share Split

A business move where a company splits its current shares into additional ones to increase the shares' marketability.

Share Price

The current market price of a single share of a company's stock.

Reverse Stock Split

A corporate action in which a company decreases the number of its outstanding shares to increase the share price without changing the company's market capitalization.