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Select the Best Matching for Each Term

Question 57

Matching

Select the best matching for each term

Premises:

Responses:

assets

Any item, case, file, or project that must be tracked.

IOLTA

Custom dates or reminders created for a set period before or after a selected event.

equity

A software containing a platform for using different programs.

ledgers

Claims of outsiders to the assets of the entity.

rules-based calendaring

Items or things that have value to a business.

events

Trust accounts used for holding small amounts of client funds or that will be held for too short a period of time to generate income sufficient to allocate to the client.

matter

The increases in the owner's equity from the delivery of goods or services.

timekeeping

A chronological listing of the financial transactions of a business.

liabilities

The recording of all time spent performing activities during the work day.

journal

Any appointment, task, reminder, or thing to do that is scheduled for a specific date

program shell

The individual records for one account.

revenue

The value of the assets of an entity reduced by the claims of outsiders.

Premises:

assets

IOLTA

equity

ledgers

rules-based calendaring

events

matter

timekeeping

liabilities

journal

program shell

revenue

Responses:

Any item, case, file, or project that must be tracked.

Custom dates or reminders created for a set period before or after a selected event.

A software containing a platform for using different programs.

Claims of outsiders to the assets of the entity.

Items or things that have value to a business.

Trust accounts used for holding small amounts of client funds or that will be held for too short a period of time to generate income sufficient to allocate to the client.

The increases in the owner's equity from the delivery of goods or services.

A chronological listing of the financial transactions of a business.

The recording of all time spent performing activities during the work day.

Any appointment, task, reminder, or thing to do that is scheduled for a specific date

The individual records for one account.

The value of the assets of an entity reduced by the claims of outsiders.

Correct Answer:

Premises:

Responses:

assets

IOLTA

equity