M2-3 Matching Terms with Definitions [LO 2-2, LO 2-3, LO 2-5) 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 neasurable financial effect. B. Four periodic financial statenents. 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 noney is borrowed from a bank. F. A resource oned by a business, with measurable value and expected future benefits. 0. Cumulative earnings of a company that are not distributed to the ouners. H. Every transaction has at least two effects. 1. Anounts presently owed by a business. 3. Assigning dollar anounts to transactions. Term 1 Joumal entry 2 AL+SE Debits Credits 3 Transaction 4 Liabilites 5.Assets 6income statement, balance sheet, statement of retained earnings, and statement of cash fows

M2-3 Matching Terms with Definitions [LO 2-2, LO 2-3, LO 2-5) 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 neasurable financial effect. B. Four periodic financial statenents. 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 noney is borrowed from a bank. F. A resource oned by a business, with measurable value and expected future benefits. 0. Cumulative earnings of a company that are not distributed to the ouners. H. Every transaction has at least two effects. 1. Anounts presently owed by a business. 3. Assigning dollar anounts to transactions. Term 1 Joumal entry 2 AL+SE Debits Credits 3 Transaction 4 Liabilites 5.Assets 6income statement, balance sheet, statement of retained earnings, and statement of cash fows

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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