Question 11 2 pts Match the definition to the correct terms: IRS Rule on Cash Accounting Method [Choose] IRS Rule on Percentage-of- Completion Accounting Method [Choose ] Current Assets [Choose ] Assets [ Choose] A Accumulated Depreciation [Choose] Fixed Assets [Choose] Net Fixed Assets [Choose ] Current Liabilities [Choose] A Long Term Liabilities [Choose] A [Choose ] total fixed assets minus the accumulated depreciation. the type of long term assets that typically include land, buildings, construction equipment, trucks and autos, and office equipment. liabilities that are expected to be paid within one year. These typically include accounts payable, billings in excess of costs and estimated earnings, notes payable, accrued Resources that are held by the company that will probably lead to some future cash inflows. Losses in value to date of the fixed assets. By IRS rule, large companies that have gross receipts more than $10 million over the last three years must use the percentage-of-completion accounting method. assets that are the most liquid and can be expected to be converted to cash, exchanged, or consumed within one year. This type of assets commonly include cash, include all debts that are not expected to be paid within one year such as loans. By IRS rule, this accounting method cannot used by regular "C" corporations whose average annual receipts for the last three years are more than $5 million