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Matching Quiz
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Match the following terms and definitions
1


Comparing results across time, often expressing changes in account balances as a percentage of prior year balances.

2


Expressing each financial statement amount as a percentage of another amount on the same financial statement.

3


The extent to which a company generates income.

4


The extent to which a company is able to pay its currently maturing obligations.

5


The ability to survive long enough to repay lenders when debt matures.

6


A business is assumed to be capable of continuing its operations long enough to meet its obligations.

7


Financial statements should present information needed to understand the financial results of the company’s business activities.

8


Companies in certain industries may follow accounting rules peculiar to that industry.

9


Companies should follow accounting rules to the extent that the benefits outweigh the costs of doing so.

10


Result from the disposal of a major component of the business and are reported net of income tax effects.

Answer choices for questions 1 through 10
A)Profitability
B)Cost–benefit constraint
C)Vertical analyses
D)Discontinued operations
E)Solvency
F)Going-concern assumption
G)Full disclosure principle
H)Horizontal analyses
I)Industry practices constraint
J)Liquidity





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