MATCHING
252.Match the items below by entering the appropriate code letter in the space provided.
A.WorksheetF.Share Capital?Ordinary
B.Permanent accountsG.Current assets
C.Closing entriesH.Operating cycle
D.Income SummaryI.Non-current liabilities
E.Reversing entryJ.Correcting entries
1.___Obligations that a company expects to pay after one year.
2.___A part of equity in a corporation.
3.___An optional tool which facilitates the preparation of financial statements.
4.___A temporary account used in the closing process.
5.___Statement of financial position accounts whose balances are carried forward to the next period.
6.___The average time that it takes to go from cash to cash in producing revenues.
7.___Entries to correct errors made in recording transactions.
8.___The exact opposite of an adjusting entry made in a previous period.
9.___Entries at the end of an accounting period to transfer the balances of temporary accounts to Retained Earnings.
10.__Assets that a company expects to pay or convert to cash or use up within one year.