Matching Questions
150.Match the following terms with the appropriate definitions.
1. The expenses of promoting sales by displaying and advertising merchandise, making sales, and delivering goods to customers.
2. The point of transfer from seller to buyer that takes place when the goods arrive at the buyer's place of business.
3. The expenses that support a company's overall operations and include costs related to accounting, human resource management and financial management.
4. A measure of a company's ability to pay its current liabilities that excludes less liquid current assets such as inventory and prepaid expenses.
5. A given percent deducted from a list price often granted to customers purchasing large quantities of merchandise.
6. A widely used income statement format that lists cost of goods sold as another expense and shows only one subtotal for total expenses.
7. Products a company owns and intends to sell.Inventory shrinkage
8. The point of transfer from seller to buyer that takes place when goods depart the seller's place of business.
9. Inventory losses that can occur as a result of theft or deterioration and require an adjusting entry to account for those losses.
10. An income statement format that shows detailed computations of net sales and other costs and expenses, and reports subtotals for various classes of items.