Matching
Match the description with the accounting terms.
Premises:
A financial record for entering all types of business transactions; a record of original entry
Transferring data from a journal to a ledger
A series of steps performed during each accounting period to classify, record, and summarize data for a business and to produce needed financial information
A permanent, classified record of all accounts used in a firm's operation; a record of final entry
Recording transactions in a journal
A ledger account form that shows the balance of the account after each entry is posted
A journal entry with more than one debit or credit
Organized in the order in which the events occur
A chain of references that makes it possible to trace information, locate errors, and prevent fraud
A journal entry made to correct an erroneous entry
The record of original entry
The record of final entry
Responses:
Accounting cycle
Audit trail
Balance ledger form
Chronological order
Compound entry
Correcting entry
General journal
General ledger
Journal
Journalizing
Ledger
Posting
Correct Answer:
Premises:
Responses:
A financial record for entering all types of business transactions; a record of original entry
Transferring data from a journal to a ledger
A series of steps performed during each accounting period to classify, record, and summarize data for a business and to produce needed financial information
A permanent, classified record of all accounts used in a firm's operation; a record of final entry
Recording transactions in a journal
A ledger account form that shows the balance of the account after each entry is posted
A journal entry with more than one debit or credit
Organized in the order in which the events occur
A chain of references that makes it possible to trace information, locate errors, and prevent fraud
A journal entry made to correct an erroneous entry
The record of original entry
The record of final entry
Premises:
A financial record for entering all types of business transactions; a record of original entry
Transferring data from a journal to a ledger
A series of steps performed during each accounting period to classify, record, and summarize data for a business and to produce needed financial information
A permanent, classified record of all accounts used in a firm's operation; a record of final entry
Recording transactions in a journal
A ledger account form that shows the balance of the account after each entry is posted
A journal entry with more than one debit or credit
Organized in the order in which the events occur
A chain of references that makes it possible to trace information, locate errors, and prevent fraud
A journal entry made to correct an erroneous entry
The record of original entry
The record of final entry
Responses:
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