Fill in the blanks with the correct terms from the list below.

Accounting cycle........................... natural business year
Cross-referencing......................... posting
Fiscal year...................................... transaction
General Journal............................. transposition
General ledger.............................. trial balance

1. _____________ is the process of transferring information from the journal to the ledger accounts.
2. Transactions are first recorded in the ______________.
3. The accidental rearrangement of the digits of a number is called _______________.
4. A(n) _________________ is an informal listing of the ledger accounts and their balances that helps prove the equality of debits and credits.
5. A(n) _____________ is a business event that has a monetary impact on the company’s financial statements and is recorded as a journal entry.
6. There are nine steps in the ________________.
7. When a business’s fiscal year ends at a low point in business activity, it is called a(n) _______________.
8. Adding the account number of the ledger account in the PR column of the journal and inserting the journal page on the ledger account is called ______________.
9. A(n) ______________ is a 12-month period a business chooses for its accounting year.
10. A(n) ______________ is a collection of accounts that includes all the individual balances that are necessary to produce financial statements.