Match the Terms Below with the Correct Definitions

question 86

Multiple Choice

Match the terms below with the correct definitions.
-Account used to record the reduction in sales due to either the physical return of goods or defective goods

• A)FOB destination
• B)Sales Returns and Allowances
• C)Controlling account
• D)Accounts receivable ledger
• E)Subsidiary ledger
• F)Purchases journal
• G)Sales invoice
• H)FOB shipping point
• I)General journal

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Definitions:

Nonbanking Public

Individuals and businesses that are participants in the financial markets but do not have the authority to accept deposits or provide banking services.

Money Supply

Money supply is the total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.

Currency

The system of money in general use in a particular country.

Nonbanking Public

Individuals and entities that do not participate in the banking system or have no access to banking services, often including the unbanked and underbanked segments of the population.