Question

match the accounting terms with the corresponding definitions
definition
a. a detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period
b. the record holding all the accounts of a business, the changes in those accounts, and their balances
c. a journal entry that is characterized by having multiple debits and/or multiple credits
d. a record of transactions in date order
e. left side of a t - account
f. side of an account where increases are recorded
g. transferring amounts from the journal to the ledger
h. the process by which companies produce their financial statements for a specific period of time
i. right side of a t - account
j. a list of all accounts with their balances at a point in time
k. a list of all accounts with their account numbers
accounting term

1. posting
2. account
3. debit
4. journal
5. chart of accounts
6. trial balance
7. normal balance
8. ledger
9. credit
10. compound journal entry
11. accounting cycle

Explanation:

Match definitions to accounting terms based on their meanings.
a - 2; b - 8; c - 10; d - 4; e - 3; f - 7; g - 1; h - 11; i - 9; j - 6; k - 5

Answer:

a. 2. Account
b. 8. Ledger
c. 10. Compound journal entry
d. 4. Journal
e. 3. Debit
f. 7. Normal balance
g. 1. Posting
h. 11. Accounting cycle
i. 9. Credit
j. 6. Trial balance
k. 5. Chart of accounts