Solved

Match the Following Definitions with the Appropriate Term

Question 255

Matching

Match the following definitions with the appropriate term

Premises:
Amount received from selling products and services.
Those happenings that affect an entity's accounting equation and can be reliably measured.
Area of accounting aimed at serving external users.
Costs of assets or services used to earn revenues.
The uncertainty about the expected return to be earned.
Defining the idea, goals, and actions of an organization.
A financial ratio useful in evaluating management, analyzing, and forecasting profits and planning activities.
Area of accounting aimed at serving the decision-making needs of internal users.
Creditors' claims on a company's assets.
The excess of revenue over expenses.
Responses:
Risk
Managerial accounting
Return on assets
Liabilities
Expenses
Planning
Financial accounting
Net income
Events
Revenues

Correct Answer:

Amount received from selling products and services.
Those happenings that affect an entity's accounting equation and can be reliably measured.
Area of accounting aimed at serving external users.
Costs of assets or services used to earn revenues.
The uncertainty about the expected return to be earned.
Defining the idea, goals, and actions of an organization.
A financial ratio useful in evaluating management, analyzing, and forecasting profits and planning activities.
Area of accounting aimed at serving the decision-making needs of internal users.
Creditors' claims on a company's assets.
The excess of revenue over expenses.
Related Questions

Q240: _ users of accounting information are users

Q245: A _ is a noncorporate business that

Q247: The records of Skymaster Airplane Rentals

Q249: Match each of the following with the

Q250: . Classify the following activities according to

Q251: Select the appropriate financial statement(s) for each

Q252: Match each of the following items with

Q253: Match the following definitions with the terms.

Q254: Match the appropriate user to the

Q256: Match the following definitions with the appropriate

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents