Financial Accounting 362
Not what you're looking for?
Match the items below by entering the appropriate letter in the space.
1. Partnership
2. Liabilities
3. Revenues
4. General ledger
5. Matching principle
6. Unearned revenues
7. Income summary
8. Intangible assets
9. Freight-out
10. Sales returns and allowances
A. A liability created when cash is received in advance of performing a service for a customer.
B. Freight costs incurred by the seller.
C. Noncurrent resources that do not have a physical substance.
D. An economic entity which is not a separate legal entity.
E. A contra-revenue account.
F. The matching of efforts (expenses) with accomplishments (revenues).
G. Creditors' claims on total assets.
H. A temporary account used in closing revenue and expense accounts.
I. Contains all asset, liability, and stock- holders' equity accounts.
J. Gross increases in stockholders' equity resulting from business activities entered into for the purpose of earning income.
Purchase this Solution
Purchase this Solution
Free BrainMass Quizzes
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.