Match the Terms Below with the Correct Definitions

question 75

Multiple Choice

Match the terms below with the correct definitions.
-Process of recording internal transactions at the end of the fiscal period for updating some accounts

• A)Fiscal year
• B)Trade-in value
• C)Accrued wages
• D)Work sheet
• E)Contra account
• F)Accounting cycle
• G)Mixed accounts
• H)Adjusting
• I)Depreciation

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Definitions:

Conjunction

In grammar, a word used to connect clauses or sentences or to coordinate words in the same clause. In logic, a compound statement formed with the word "and" to connect two statements, both of which must be true for the whole conjunction to be true.

Contingency

A future event or circumstance that is possible but cannot be predicted with certainty.

Conjuncts

Components within a conjunction, which is a compound statement formed by combining two or more statements with the connector "and".

Contingencies

Possible, future events or conditions that might affect the outcome of a plan or project, often requiring planning for different scenarios.