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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 in the blank space next to each term.

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

Correct Answer:

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