M$2-3($Static$)$ Matching Terms with Definitions $[$LO $2-2,$ LO $2-3]$

Required:

Match each term with its related definition by selecting the appropriate letter from the definition list that follows.

Definition

An exchange or event that has a direct and measurable financial effect.

Four periodic financial statements.

The two equalities in accounting that aid in providing accuracy.

The results of transaction analysis in debits$-$equal$-$credits format.

The account that is debited when money is borrowed from a bank.

An economic resource owned by a business.

Cumulative earnings of a company that are not distributed to the owners.

Every transaction has at least two effects.

Amounts presently owed by a business.

Assigning dollar amounts to transactions.