Matching
Match the following definitions and terms
Premises:
The sources of accounting information.
An increase in an asset, dividend and expense account and decrease in a liability, common stock, and revenue account; recorded on the left side of a T-account.
The process of transferring journal entry information to the ledger.
An accounting system where the impact of each transaction is recorded in at least two accounts; the sum of the debits for each entry must equal its credits.
A file containing all accounts of a company and their balances.
A company's record of all transactions in one place that shows debits and credits for each transaction.
A record of the increases and decreases in a specific asset, liability, equity, revenue or expense account.
Decrease in an asset, dividend and expense account and increase in a liability, common stock and revenue account; recorded on the right side of a T-account.
A simple account form used as a helpful tool in showing the effects of transactions and events on specific accounts.
Another name for the accounting books or simply the books.
Responses:
Credit
Journal
Account
Ledger
Source documents
Accounting records
Debit
T-account
Posting
Double-entry accounting
Correct Answer:
Premises:
Responses:
The sources of accounting information.
An increase in an asset, dividend and expense account and decrease in a liability, common stock, and revenue account; recorded on the left side of a T-account.
The process of transferring journal entry information to the ledger.
An accounting system where the impact of each transaction is recorded in at least two accounts; the sum of the debits for each entry must equal its credits.
A file containing all accounts of a company and their balances.
A company's record of all transactions in one place that shows debits and credits for each transaction.
A record of the increases and decreases in a specific asset, liability, equity, revenue or expense account.
Decrease in an asset, dividend and expense account and increase in a liability, common stock and revenue account; recorded on the right side of a T-account.
A simple account form used as a helpful tool in showing the effects of transactions and events on specific accounts.
Another name for the accounting books or simply the books.
Premises:
The sources of accounting information.
An increase in an asset, dividend and expense account and decrease in a liability, common stock, and revenue account; recorded on the left side of a T-account.
The process of transferring journal entry information to the ledger.
An accounting system where the impact of each transaction is recorded in at least two accounts; the sum of the debits for each entry must equal its credits.
A file containing all accounts of a company and their balances.
A company's record of all transactions in one place that shows debits and credits for each transaction.
A record of the increases and decreases in a specific asset, liability, equity, revenue or expense account.
Decrease in an asset, dividend and expense account and increase in a liability, common stock and revenue account; recorded on the right side of a T-account.
A simple account form used as a helpful tool in showing the effects of transactions and events on specific accounts.
Another name for the accounting books or simply the books.
Responses:
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