Match Each Account to the Proper Account Description;not All Letters

Multiple Choice

Match each account to the proper account description;not all letters will be used.
-Retained Earnings

A) Stocks and bonds of other companies held for the purpose of exercising control.
B) An accumulation of the sum of the expense since the beginning of the benefit period.
C) Outside ownership in the equity of consolidated subsidiaries.
D) Machinery and tools,valued at historical cost.
E) Monies due because expenses,such as salaries,are incurred in a different period than when the cash outlay occurs.
F) The most liquid of assets,it may also include savings accounts.
G) Goods on hand.
H) A potential liability created by differing tax and reporting methods.
I) Ownership and debt instruments readily converted to cash.
J) An expenditure made in advance of the use of the service or good.
K) Monies due from customers arising from sale or service rendered.
L) The capital stock of residual owners.
M) Bonds that can be exchanged for stock at the option of the holder.
N) Undistributed earnings of the corporation.
O) Shares of the firm's own stock that have been repurchased.
P) Monies due for goods bought for use or resale.
Q) Excess over legal par paid at time of sale.
R) Nondepreciable real estate.
S) Collections in advance of service.
T) Securities that give the holder the right to buy additional shares of common stock at a fixed price.