Listed Below Are Ten Terms Followed by a List of Phrases

question 92

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 best term by placing the letter designating the term in the space provided.
-____ Resources owed by a company.

• A)Assets
• B)Debit
• C)Journal entry
• D)Liabilities
• E)Revenues
• F)Expenses
• G)Credit
• H)General ledger
• I)Trial balance
• J)Dividends

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Definitions:

Trade Discount

A reduction in the listed price of a product or service, offered by sellers to buyers in the same trade.

Hardware Stores

Hardware Stores are retail establishments that sell tools, building materials, and supplies used in home improvement, maintenance, and construction projects.

Rotary Saw

A power tool with a circular blade used for cutting various materials, often used in construction and woodworking.

Net Discount

The reduction in price after all discounts have been applied and before taxes are calculated.