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Provided Below Is a List of Definitions and Terms

Question 249

Matching

Provided below is a list of definitions and terms. Match them by placing the letter that identifies the best definition

Premises:
Compound journal entry
General journal
Posting
Account
Chart of accounts
Posting reference column
Unearned revenues
Note receivable
T-account
Trial Balance
Responses:
A record of the increases and decreases in a specific asset, liability, equity, revenue, or expense item.
A written promise from a customer to pay a definite sum of money on a specified future date.
Represents a ledger account and is used to show the effects of transactions.
A journal entry that affects at least three accounts.
The process of transferring journal entry information to the ledger.
A column in journals where individual account numbers are entered when entries are posted to ledger accounts.
A list of accounts and their balances; the total debit balances should equal the total credit balances.
A list of all accounts used by a company and the identification number assigned to each account.
Liabilities created when customers pay in advance for services not yet performed.
The most flexible type of journal, it can be used to record any kind of transaction.

Correct Answer:

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