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Match the Following Chapter Terms with Their Definition

Question 81

Matching

Match the following chapter terms with their definition.

Premises:
A state of being under obligation; responsible for a loss, debt, penalty, or the like
Responses:
liability
proprietorship
income
straight line method
fixed cost
assets
fiscal year
final inventory

Correct Answer:

liability
proprietorship
income
straight line method
fixed cost
assets
fiscal year
final inventory
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