Accounting Chapter 7 test

Which one of the following is a permanent record organized by account numbers?

• source documents

• General Journal

• General Ledger

• trial balance

The process of transferring information from the General Journal to the General Ledger is known as

• journalizing

• analyzing

• proofing

• posting

Which of the following is used as a method of proving that the total debits equal the total credits after posting?

• General Journal

• General Ledger

• Trial Balance

• Account Summary

In which of the following can an accountant find accounts and their balances?

• General Journal

• General Ledger

• Trial Balance

• Summary of Accounts

Which one of the following is also called book of final entry?

• General Journal

• General Ledger

• Trial Balance

• Summary of Accounts

Indicate how accountants know that an account has a zero balance.

The General Ledger creates a record of the business transactions on each account.

• True

• False

The General Journal provides up-to-date balances for each account in a business.

• True

• False

Ledger account forms are specialized stationery used to enter transactions into an account.

• True

• False

When the existing account balance is a debit and the amount posted is a debit, subtract the amounts.

• True

• False