REVIEW questions

Front

A schedule that contains all accounts needed to prepare financial statements

Back

General Ledger

Front

A ledger is a

Back

group of accounts

Front

Transferring information from a journal entry to a ledger account (p. 98)

Back

posting

Front

What is a General Ledger?

Back

A ledger that contains all accounts needed to prepare financial statements.

Front

What is the process for Opening an Account?

Back

Writing an account title and number on the heading of an account.

Front

What is Posting?

Back

Transferring information from a journal entry to a ledger account.

Front

What is a Correcting Entry?

Back

A journal entry made to correct an error after it has been entered into the ledger.

Front

How do you prove cash?

Back

Determining that the amount of cash agrees with the balance of the cash account in the Cash general ledger account.

Front

What is the definition of file maintenance?

Back

The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.

Front

What is the definition of an Account Number?

Back

The number assigned to an account.