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Ch.2 Quiz

Select the Definition that corresponds to the displayed Term.
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1. Credit




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2. Double-entry Accounting




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3. Compound journal entry




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4. Account




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5. Source documents




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6. Creditors




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7. Posting-reference column




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8. Debit




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9. Unearned revenue




Select the Term that corresponds to the displayed Definition.
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10. All-purpose journal for recording the debits and credits of transactions and events.




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11. Process of transferring journal entry information to the ledger; computerized systems automate this process.




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12.  Account with debit and credit columns for recording entries and another column for showing the balance of the account after each entry.




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13. Process of recording transactions in a journal.




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14. Tool used to show the effects of transactions and events on individual accounts.




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15. Difference between total debits and total credits (including the beginning balance) for an account.




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16. List of accounts used by a company; includes an identification number for each account.




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17. Record in which transactions are entered before they are posted to ledger accounts; also called book of original entry.




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18. List of accounts and their balances at a point in time; total debit balances equal total credit balances.





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