question 4\nmatching\ncolumn a\n1 an amount of money taken out of the business by the owner is a \n2 record…

question 4\nmatching\ncolumn a\n1 an amount of money taken out of the business by the owner is a \n2 record business income only\n3 are used to record information for only one accounting period.\n4 the \naccount shows the amount of the owners investment, or equity, in a business.\n5 accounts that are used to record information continuously from one accounting period to the next are called \n6 are used to record the costs and services used by a business.\n7 recognizing and recording revenue on the date it is earned even if cash has not been received on that date is known as the \ncolumn b\na. temporary capital accounts\nb. withdrawal\nc. expense accounts\nd. revenue recognition principle\ne. permanent accounts\nf. revenue accounts\ng. capital

question 4\nmatching\ncolumn a\n1 an amount of money taken out of the business by the owner is a \n2 record business income only\n3 are used to record information for only one accounting period.\n4 the \naccount shows the amount of the owners investment, or equity, in a business.\n5 accounts that are used to record information continuously from one accounting period to the next are called \n6 are used to record the costs and services used by a business.\n7 recognizing and recording revenue on the date it is earned even if cash has not been received on that date is known as the \ncolumn b\na. temporary capital accounts\nb. withdrawal\nc. expense accounts\nd. revenue recognition principle\ne. permanent accounts\nf. revenue accounts\ng. capital

Answer

Brief Explanations:

  • 1: An amount of money taken out of the business by the owner is a withdrawal.
  • 2: Temporary capital accounts record business income only.
  • 3: Expense accounts are used to record information for only one accounting period.
  • 4: The revenue recognition principle states revenue is earned even if cash has not been received on that date.
  • 5: Permanent accounts are used to record information continuously from one accounting period to the next.
  • 6: Revenue accounts are used to record the costs and services used by a business.
  • 7: Capital shows the amount of the owner's investment, or equity, in a business.

Answer:

  1. b. withdrawal
  2. a. temporary capital accounts
  3. c. expense accounts
  4. d. revenue recognition principle
  5. e. permanent accounts
  6. f. revenue accounts
  7. g. capital