Match the Accounting Terms with the Description by Entering the Proper

Match the accounting terms with the description by entering the proper letter in the space provided.
A. Accounting cycle
B. Audit trail
C. Balance ledger form
D. Chronological order
E. Compound entry
F. Correcting entry
G. General journal
H. General ledger
I. Journal
J. Journalizing
K. Ledger
L. Posting
________ 1. A financial record for entering all types of business transactions; a record of original entry
________ 2. Transferring data from a journal to a ledger
________ 3. A series of steps performed during each accounting period to classify, record, and summarize data for a business and to produce needed financial information
________ 4. A permanent, classified record of all accounts used in a firm's operation; a record of final entry
________ 5. Recording transactions in a journal
________ 6. A ledger account form that shows the balance of the account after each entry is posted
________ 7. A journal entry with more than one debit or credit
________ 8. Organized in the order in which the events occur
9. A chain of references that makes it possible to trace information, locate errors, and
prevent fraud
________ 10. A journal entry made to correct an erroneous entry
11. The record of original entry
________ 12. The record of final entry

Correct Answer:

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(1) G, (2) L, (3) A,...

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