Question

Select the appropriate letter to each of its related definition in the list given below. There should be only one definition per term. (That is, there are more definitions than terms.) Definition A.An exchange or event that has a direct and measurable financial effect. B.Four periodic financial statements. C.The two equalities in accounting that aid in providing accuracy. D.The results of transaction analysis in debits-equal-credits format. E.The account that is debited when money is borrowed from a bank. F.A resource owned by a business, with measurable value and expected future benefits. G.Cumulative earnings of a company that are not distributed to the owners. H.Every transaction has at least two effects. I.Amounts presently owed by a business. J.Assigning dollar amounts to transactions.

Answer 1

Answer:

Transaction e An exchange or event that has a direct and measurable fin effect

2 Separate Entity f accounts for a business separate from its owners

3 Balance Sheet B Reports Assets , Liabilities and Stock holders equity, h standardised format used to accumulate data

4 Liability N Amounts presetly owed by business

5 Asset = Liability + Equity c decrease aassets and inc liab and stock holder equity and d increase assets and decrease stockholders equity and liab, ,I basic accounting equation J Equalities in Accouting that aid in providing accuracy

6 Current assets A Economic resources to be used or turned into cash within 1 year

7 Notes payable k account credited when money is borrowed from bank using Promissory note

8 Duality of effects M Every transaction has atleast 2 effects

9 Retained earnings l cumulative earnings that are not distributed to owners

10 Debit g principle asset shouls be recorded at original co

Explanation: