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Provided Below Is a List of Definitions and Terms

Question 222

Matching

Provided below is a list of definitions and terms. Match the term with defenition.

Premises:
Account
Unearned revenues
Chart of accounts
Note receivable
T-account
Compound journal entry
Trial Balance
Posting reference column
Posting
General journal
Responses:
A written promise from a customer to pay a definite sum of money on a specified future date.
A simple form used as a helpful tool in understanding the effect of transactions and events on specific accounts.
A column in journals where individual account numbers are entered when entries are posted to ledger accounts.
Liabilities created when customers pay in advance for products or services; satisfied by delivering the products or services in the future.
The most flexible type of journal, it can be used to record any kind of transaction.
The process of transferring journal entry information to the ledger.
A record of the increases and decreases in a specific asset, liability, equity, revenue, or expense item.
A journal entry that affects at least three accounts.
A list of all accounts used by a company and the identification number assigned to each account.
A list of accounts and their balances at a point in time; the total debit balances should equal the total credit balances.

Correct Answer:

Account
Unearned revenues
Chart of accounts
Note receivable
T-account
Compound journal entry
Trial Balance
Posting reference column
Posting
General journal
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