Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall

Exercise 21

Following is a list of the key terms and concepts introduced in the chapter, along with a list of corresponding definitions. Match the appropriate letter for the key term or concept to each definition provided (items 1–15). Note that not all key terms and concepts will be used.

a. Accumulated depreciation	p. Earnings per share of common stock
b. Balance sheet	q. Paid-in capital
c. Accrued liabilities	r. Common stock
d. Current assets	s. Additional paid-in capital
e. Current liabilities	t. Retained earnings
f. Merchandise inventory	u. Dividends
g. Revenues	v. Par value
h. Expenses	w. Going concern concept
i. Gains	x. Matching concept
j. Losses	y. Accrual concept
k. Net sales	z. Opportunity cost
l. Cost of goods sold	aa. Annual report
m. Gross profit	bb. Income statement
n. Income from operations
o. Net income

_______ A document distributed to stockholders that contains the financial statements for the fiscal year of the reporting firm with the report of the external auditor’s examination of the financial statements.

Step 1 of 2

The correct matching is aa.