Match each definition with the correct term below.
-Contributed capital
A) Information should have direct bearing on a decision.
B) The quality or accounting information that enables users to comprehend the meaning of the information they receive.
C) The quality of accounting information that assures users that information as presented can be substantiated.
D) The accounting convention that requires that once a company has adopted an accounting procedure,it must use it from one period to the next.
E) The accounting convention that refers to the relative importance of an item or event.
F) The accounting convention that states that when faced with choosing between two equally acceptable procedures or estimates,accountants should choose the one that is least likely to overstate assets and income.
G) Cash and other assets that a company can reasonably expect to convert to cash,sell,or consume within one year or the company's normal operating cycle.
H) Debts that fall due more than one year in the future or beyond the normal operating cycle.
I) The amount that stockholders invest in the business.
J) Gross sales less sales returns and allowances
K) The amount a merchandiser paid for the merchandise it sold during an accounting period.
L) The income from a company's main business.
Correct Answer:
Verified
Q17: Match each term to its definition.
-Relevance
A)Can accommodate
Q37: Please define the following key terms. Show
Q75: Match the following terms with their definitions.
-Current
Q124: Why is it important for a company
Q145: Match each definition with the correct term
Q148: Match each definition with the correct term
Q149: Match each definition with the correct term
Q152: Using the following amounts taken from the
Q153: Match each definition with the correct term
Q154: Each of the following statements violates a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents