Listed below are several terms and phrases associated with the measurement process for external transactions. List A List B _______1. Account a. Record of all transactions affecting a company. _______2. Analyze transactions b. Determine the dual effect of business events on the accounting equation. _______3. Journal c. List of accounts and their balances. _______4. Post d. Summary of the effects of all transactions related to a particular item over a period of time _______5. Trial balance e. Transfer balances from the journal to the general ledger. Required:Pair each item from List A with the item from List B to which it is most appropriately associated.
Listed below are several terms and phrases associated with the measurement process for external transactions. List A List B _______1. Account a. Record of all transactions affecting a company. _______2. Analyze transactions b. Determine the dual effect of business events on the accounting equation. _______3. Journal c. List of accounts and their balances. _______4. Post d. Summary of the effects of all transactions related to a particular item over a period of time _______5. Trial balance e. Transfer balances from the journal to the general ledger. Required:Pair each item from List A with the item from List B to which it is most appropriately associated.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Listed below are several terms and phrases associated with the measurement process for external transactions.
List A | List B |
_______1. Account | a. Record of all transactions affecting a company. |
_______2. Analyze transactions | b. Determine the dual effect of business events on the |
_______3. Journal | c. List of accounts and their balances. |
_______4. Post | d. Summary of the effects of all transactions related to a particular item over a period of time |
_______5. |
e. Transfer balances from the journal to the general ledger. |
Required:
Pair each item from List A with the item from List B to which it is most appropriately associated.
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