Questions
25/SP-ACC-220-1M3, ACC-220-103 Chapter One Learning Resources Quiz
Matching
Match each of the following items with their proper definition Assets Liabilities Stockholders' Equity Dividends Revenues Expenses 1: Assets 2: Liabilities 3: Stockholders' Equity 4: Dividends 5: Revenues 6: Expenses
Options
A.Resources of a company
B.Money received
C.Sales of products or services to customers
D.Amounts owed
E.Money paid out,
F.Owners' claims to resources
G.Profits and cash
H.Distribution to stockholders
I.Costs of selling products or services
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Step-by-Step Analysis
First, let's restate the items to be matched and the available definitions.
Items to match:
1) Assets
2) Liabilities
3) Stockholders' Equity
4) Dividends
5) Revenues
6) Expenses
Available definitions (answer options):
1) Resources of a company
2) Money received
3) Sales of products or services to customers
4) Amounts owed
5) Money paid out,
6) Owners' claims to resources
7) Profits and cash
8) Distribution to stockholders
9) Costs of selling products or services
Now, analyze option by option across the six items:
Option 1: "Resources of a company" aligns exactly with Assets. This is a correct match for item 1. It does not describe Liabilities, Stockholders' Equity, Dividends, Revenues, or Expenses.
Option 2: "Money received" is not a precise, universal definition for any of the six terms in this list. ......Login to view full explanationLog in for full answers
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