Matching Definitions with Balance Sheet€“Related Terms
Following are terms related to the balance sheet that were discussed in Chapters 2 through 5. Match each definition with its related term by entering the appropriate letter in the spaceprovided.

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Terms Definitions (1) Capital in excess of par A. Nearness of assets to cash (in time). (2) Assets B. Liabilities expected to be paid out of current assets normally within the next year. C. All liabilities not classified as current liabilities. (3) Retained earnings (4) Book value D. Total assets minus total liabilities. (5) Other assets E. Probable future economic benefits owned by the entity from past transactions. F. Debts or obligations from past transactions to be paid (6) Shares outstanding (7) Shareholders" equity (8) Liquidity (9) Normal operating cycle (10) Current assets (11) Current liabilities (12) Long-term liabilities with assets or services. G. Assets expected to be collected in cash within one year or the operating cycle, if longer. H. Assets that do not have physical substance. I. Balance of the Common Stock account divided by the par value per share. J. A miscellaneous category of assets. (13) Fixed assets (14) Liabilities (15) Contra-asset account K. Sum of the annual depreciation expense on an asset from its acquisition to the current date. (16) Accumulated depreciation (17) Intangible assets L. Asset offset account (subtracted from asset). M. Accumulated earnings minus accumulated dividends. N. Property, plant, and equipment. O. Same as carrying value; cost less accumulated depreciation to date. P. Amount of contributed capital less the par value of the stock. Q. The average cash-to-cash time involved in the operations of the business. R. None of the above.