Match the Terms That Follow with the Correct Definitions

question 22

Multiple Choice

Match the terms that follow with the correct definitions.
-From the viewpoint of the buyer, a business form prepared by the seller that lists the items shipped, their cost, and the shipping terms is a(n)

• A) purchase requisition.
• B) COD statement.
• C) purchase order.
• D) sales requisition.
• E) invoice.

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Definitions:

Chart of Accounts

An organized classification of all financial accounts in a business's accounting system, facilitating the recording of transactions and financial reporting.

Dividends

Payments made by a corporation to its shareholder members from its profits.

Stockholders' Equity

The residual interest in the assets of a corporation that remains after deducting its liabilities, representing the ownership interest of the stockholders.

Income Statement

A financial statement that shows a company’s revenue and expenses over a specific period, determining its profit or loss.