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If a transaction has been improperly journalized and posted to the ledger, the incorrect journal entry should be corrected with an additional journal entry, called a
 
Correcting Entry
 
Eraser Mark
 
Addition to the Journal
 
Error
Determining that the amount of cash agrees with the balance of the cash account in the accounting records is called
 
Proving Cash
 
Balancing the books
 
Balancing the account
 
Petty cash
Writing an account title and number on the heading of an account is known as
 
Opening an account
 
Journalizing
 
Closing an Account
 
Ledgering
Transferring information from a journal entry to a ledger account is known as
 
Posting
 
Clearning
 
Journaling
 
Ledgering
The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current is called
 
File Maintenance
 
Chart of Accounts
 
Correcting Errors
The number assigned to an account.
 
Account Number
 
Account Title
 
Source Document
 
Reference Number
A ledger that contains all accounts needed to prepare financial statements.
 
Ledger
 
Journal
 
Chart of Accounts
A business form giving written acknowledgement for cash received
 
Receipt
 
Memo
 
Check
 
Invoice
A form on which a brief message is written describing a transaction
 
Memo
 
Sales Recepit
 
Invoice
 
Check
A business form ordering a bank to pay cash from a bank account is called?
 
Check
 
Memo
 
Credit
 
Invoice
A form describing the goods or services sold, the quantity, and the price is called
 
Invoice
 
tape
 
Sales Receipt
 
Memo
A business paper from which information is obtained for a journal entry is called a
 
Source Document
 
Receipt
 
Proof of Purchase
The recording of debit and credit parts of a transaction is called?
 
Double Entry Accounting
 
Single Entry Accounting
 
Bookkeeping
 
Accounting
When recording transactions in a journal they are to be ordered by:
 
Chronologically
 
Largest to smallest
 
By Account
Which of the following is NOT one of the 4 Financial Statements?
 
Check register
 
Income Statement
 
Balance Sheet
 
Cash Flow Statement
Cash Accounting Occurs...
 
When the cash actually changes hands
 
When the transactions occurs
Accrual Accounting records cash transactions....
 
When they actually occur
 
When the cash actually changes hands
Which is the correct accounting equations?
 
Assets = Liabilities + Owner's Equity
 
Assets + Liabilities = Owner's Equity
 
Liabilities = Owners Equity + Assets
 
LIabilities = Owner's Equity = Assets
Define GAAP
 
Generally Accepted Accounting Principles
 
Great American Accounting Principles
 
Generally Accepted Accountants Procedure
 
Great American Accountants Progress
Which of the following is NOT one of the 3 activities that involve accounting within a business?
 
Marketing
 
Financing
 
Investing
 
Operating Activities
Who uses accounting information?
 
Accountants, Business Owner's, Employees
 
Accountants
 
Accountants and the IRS
 
Business Owner's and the Accountants
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