Solved

Match the Appropriate Definitions with Correct Term

Question 207

Matching

Match the appropriate definitions with correct term.

Premises:
The cost of borrowing money.
A person who starts a business.
Reports gross profit on sales (or gross margin) and operating income as subtotals.
An owner's investment in a company.
A statement that reports two consecutive fiscal years.
The equity that results from doing business that is kept in the company.
The amount of money borrowed.
Responses:
Entrepreneur
Multistep income statement
Interest
Retained earnings
Contribution or contributed capital
Principal
Comparative balance sheets

Correct Answer:

The cost of borrowing money.
A person who starts a business.
Reports gross profit on sales (or gross margin) and operating income as subtotals.
An owner's investment in a company.
A statement that reports two consecutive fiscal years.
The equity that results from doing business that is kept in the company.
The amount of money borrowed.
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