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Accounting Terms II

Accounting Terms II

Assessment

Flashcard

Architecture

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

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11 questions

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1.

FLASHCARD QUESTION

Front

The process of recording business transactions chronologically.

Back

journalizing

2.

FLASHCARD QUESTION

Front

The following is the accounting equation: assets = liabilities + owners equity

Back

true

3.

FLASHCARD QUESTION

Front

Debits do not have to equal credits.

Back

false

4.

FLASHCARD QUESTION

Front

A tool used to analyze transactions into debit and credit parts.

Back

t account

5.

FLASHCARD QUESTION

Front

This column is used to put the account number.

Back

post ref. in journal

6.

FLASHCARD QUESTION

Front

A form that lists accounts used by a business along with balances.

Back

general ledger

7.

FLASHCARD QUESTION

Front

List accounts names and their balances on a specific date. Allows you to detect errors.

Back

trial balance

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