Match the term with its definition. (There are more definitions than terms.)

Question

A. dr
B.
C.
D. Classified Balance Sheet
E.
F.
G.
H. Common Stock
I. Accounting Equation
J.
K. Journal Entry
L.
M. Transaction
N. Accounts Payable
O. cr

Answer 1

A. The abbreviation for an item posted on the left side of a T-account.
B. Another name for stockholders' equity or shareholders' equity.
C. A transaction that is triggered automatically merely by the passage of time.
D. A balance sheet that has assets and liabilities categorized as current vs. noncurrent.
E. When a company becomes included in the Fortune 500.
F. Liabilities divided by assets.
G. A balance sheet that has not yet been publicly released.
H. The account credited when cash is received in exchange for stock issued.
I. The expression that assets must equal liabilities plus stockholders' equity.
J. An event that has no effect on the balance sheet and is not recorded in the financial statements.
K. A method of recording a transaction in debit/credit format.
L. The value of a company's public relations campaign.
M. An exchange or event that has a direct impact on a company's financial statements.
N. Amounts owed to suppliers for goods or services bought on credit.
O. The abbreviation for an item posted on the right side of a T-account.