SECTION II: MATCHING (10 possible points) Please match the numbered terms with their definitions by placing the letter that identifies the best definition in the blank space next to the term. The value of each correct answer is 1 point.
____ 1. Accelerated Depreciation
____ 2. Double Declining-Balance Method
____ 3. FIFO Method ____ 4. Internal Control System
____ 5. LIFO Method ____ 6. Periodic System ____ 7. Perpetual System ____ 8. Sarbanes-Oxley Act
____ 9. Straight-Line Method
____ 10. Time Value of Money
A. Policies and procedures necessary to ensure the safeguarding of an entity
Solution
Ths matched answers are as below:
__I__ 1. Accelerated Depreciation
__J__ 2. Double Declining-Balance Method
__B__ 3. FIFO Method
__A__ 4. Internal Control System
__C__ 5. LIFO Method
__D_ 6. Periodic System
__E__ 7. Perpetual System
__H__ 8. Sarbanes-Oxley Act
__F__ 9. Straight-Line Method
__G__ 10. Time Value of Money
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SECTION II- MATCHING (10 possible points) Please match the numbered te.docx
1. SECTION II: MATCHING (10 possible points) Please match the numbered terms with their
definitions by placing the letter that identifies the best definition in the blank space next to the
term. The value of each correct answer is 1 point.
____ 1. Accelerated Depreciation
____ 2. Double Declining-Balance Method
____ 3. FIFO Method ____ 4. Internal Control System
____ 5. LIFO Method ____ 6. Periodic System ____ 7. Perpetual System ____ 8. Sarbanes-
Oxley Act
____ 9. Straight-Line Method
____ 10. Time Value of Money
A. Policies and procedures necessary to ensure the safeguarding of an entity
Solution
Ths matched answers are as below:
__I__ 1. Accelerated Depreciation
__J__ 2. Double Declining-Balance Method
__B__ 3. FIFO Method
__A__ 4. Internal Control System
__C__ 5. LIFO Method
__D_ 6. Periodic System
__E__ 7. Perpetual System
