Solved

Match the Following Definitions with the Appropriate Term

Question 176

Matching

Match the following definitions with the appropriate term

Premises:

Responses:

The special journal used to record all receipts of cash.

Sales journal

A journal with more than one column for recording data.

Controlling account

A record of the separate accounts of each credit customer that is controlled by a general ledger account.

Accounts receivable ledger

A journal used to record all purchases on credit.

Cash disbursements journal

A journal used to record sales of merchandise on credit.

Cash receipts journal

A measure of the profitability of a segment, calculated as segment operating income divided by segment average assets.

Schedule of accounts payable

A special journal used to record all payments of cash.

Segment return on assets

Any journal used for recording and posting transactions of a similar type.

Columnar journal

A general ledger account, the balance of which, after posting, equals the sum of the balances of the accounts in its related subsidiary ledger.

Special journal

A list of each customer from the accounts payable ledger with their balances and the total.

Purchases journal

Premises:

The special journal used to record all receipts of cash.

A journal with more than one column for recording data.

A record of the separate accounts of each credit customer that is controlled by a general ledger account.

A journal used to record all purchases on credit.

A journal used to record sales of merchandise on credit.

A measure of the profitability of a segment, calculated as segment operating income divided by segment average assets.

A special journal used to record all payments of cash.

Any journal used for recording and posting transactions of a similar type.

A general ledger account, the balance of which, after posting, equals the sum of the balances of the accounts in its related subsidiary ledger.

A list of each customer from the accounts payable ledger with their balances and the total.

Responses:

Sales journal

Controlling account

Accounts receivable ledger

Cash disbursements journal

Cash receipts journal

Schedule of accounts payable

Segment return on assets

Columnar journal

Special journal

Purchases journal

Correct Answer:

Premises:

Responses:

The special journal used to record all receipts of cash.

A journal with more than one column for recording data.

A record of the separate accounts of each credit customer that is controlled by a general ledger account.

A journal used to record all purchases on credit.

A journal used to record sales of merchandise on credit.

A measure of the profitability of a segment, calculated as segment operating income divided by segment average assets.

A special journal used to record all payments of cash.

Any journal used for recording and posting transactions of a similar type.

A general ledger account, the balance of which, after posting, equals the sum of the balances of the accounts in its related subsidiary ledger.

A list of each customer from the accounts payable ledger with their balances and the total.