Question 8 15 pts Match each definition with the appropriate term. An account that is paired with another account and acts to reduce.its book value. Choose) [Choose1 The amount at which an asset or liability is reported in the financial statements. Converts some of an asset's or a liability's book value into an expense or a revenue A journal entry that transfers net income or loss to the Retained Earnings account [ Choose ] Deferral adjustment Income before income taxes Accrual adjustment Carrying value Adjusted trial balance When revenue minus expenses is a negative number Lists the balances of all temporary and Temporary account permanent accounts to provide a check on the equality of the debits Net loss and credits. Permanent account An account that must have a zero balance after closing entries have been Closing journal entry made Post-closing trial balance Adds new values into the balance sheet and income statement accounts. Contra-asset The level of profit prior to considering Net income income tax. Adjusting journal entry Checks that debits equal credits and that all temporary accounts have been closed, [Choose