Chapter 2, Problem 14SE

Accounting terminology (Learning Objectives 1, 2, 3, & 4) 5-10 min.

Accounting has its own vocabulary and basic relationships. Match the accounting terms at the left with the corresponding phrase at the right.

1. Posting	a. Chronological record of transactions.
2. Normal balance	b. An asset.
3. Payable	c. Left side of an account.
4. Journal	d. Side of an account where increases are recorded.
5. Receivable	e. Copying data from the journal to the ledger.
6. Chart of accounts	f. List of all accounts with their balances.
7. Debit	g. A liability.
8. Trial balance	h. List of all of the accounts of a business.
9. Credit	i. Right side of an account.