Match the Terms That Follow with the Correct Definitions

question 60

Multiple Choice

Match the terms that follow with the correct definitions.
-The account used to record amounts taken out of the business by the owner

• A)Interim statements
• B)Closing entries
• C)Expenses
• D)Real or permanent accounts
• E)Drawing account
• F)Income Summary
• G)Post-closing trial balance
• H)Accounting cycle
• I)Expense and revenue
• J)Temporary-equity accounts

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Definitions:

Great Society Program

A set of domestic policy initiatives launched by President Lyndon B. Johnson aimed at eliminating poverty and racial injustice.

1960s

A decade marked by major political and social change globally, including the Civil Rights Movement in the United States, the Vietnam War, and the rise of counterculture.

Personal Responsibility

The idea that individuals are accountable for their actions and the consequences of those actions.

Work Opportunity Reconciliation Act

Legislation in the United States that aims to encourage employers to hire less qualified job seekers, including long-term welfare recipients, by offering federal tax credits.