Match the Term with Its Definition

Multiple Choice

Match the term with its definition.
-Operating expenses that have been incurred but not paid; shown as an expense in the income statement and as a liability in the balance sheet until paid

A) accrued expenses
B) cash flow activities
C) cost of goods sold
D) gross profits
E) long-term debt
F) long-term note
G) net profits
H) operating profits
I) profit margins
J) profits before taxes (taxable income)
K) short-term notes
L) statement of cash flows