Solved

Match the Following Terms with the Appropriate Definitions Below

Question 59

Matching

Match the following terms with the appropriate definitions below.Definitions have not been provided for all of these terms.

Premises:

Responses:

A party that borrows resources with the understanding that the resources will be repaid later

Creditor

The amount borrowed or loaned

Interest

What you pay for the use of other people's money or what you earn by lending money

Accounts receivable

A party that lends resources with the understanding that the resources will be returned later

Accounts payable

Assets created by selling goods to customers on credit

Liabilities

Debtor

Principal

Sales revenue

Premises:

A party that borrows resources with the understanding that the resources will be repaid later

The amount borrowed or loaned

What you pay for the use of other people's money or what you earn by lending money

A party that lends resources with the understanding that the resources will be returned later

Assets created by selling goods to customers on credit

Responses:

Creditor

Interest

Accounts receivable

Accounts payable

Liabilities

Debtor

Principal

Sales revenue

Correct Answer:

Premises:

Responses:

Creditor

Interest

Accounts receivable

Accounts payable

Liabilities

Debtor

Principal

Sales revenue