Question: Provide the term that best describes the statement in Column A. In your answer book just write the letter from column A with the correct
Provide the term that best describes the statement in Column A. In your answer book just write the letter from column A with the correct term from Column B
| COLUMN A | COLUMN A |
| A. Resources controlled by the entity for less than one year as a result of a past event from which future economic benefits are expected to likely to flow into the entity. | Allowances for credit losses adjustment |
| B. The account credited when recording the depreciation adjustment. | Accrual concept |
| C. The supporting document used for the depreciation entry. | Income received in advance |
| D. The difference between the original cost and the accumulated depreciation of the asset. | Accrued income |
| E. When the selling price is less than the carrying value. | Consumable stores on hand |
| F. The concept where all expenses is assigned to the financial period in which they were incurred | Carrying value |
| G. The account to be debited when recording the creation of allowance for credit losses. | Accumulated depreciation |
| H. An income that is received in this financial year but only provides the goods or services in the next financial year. | Asset register |
| I. An income earned but not yet received. | Current asset |
| J. Consumable stores that have not been used up by the end of the financial year. | Loss on sale of asset |
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