Match the Terms with the Definitions

Multiple Choice

Match the terms with the definitions.
-The opposite of the adjusting entry. It is made on the first day of the next accounting period and simplifies recording transactions in the new period.

A) accounts receivable turnover
B) average collection period
C) reversing entry
D) return on owner's equity
E) current assets
F) current liabilities
G) current ratio
H) post-closing trial balance
I) Mortgage Payable
J) income from operations
K) interstatement analysis
L) mortgage
M) long-term liabilities