S2-12. (Learning Objective 2: Using key accounting terms) Accounting has its own vocabulary and basic relationships. Match the accounting terms at left with the corresponding definition or meaning at right.

____ 1. Normal balance A. Record of transactions ____ 2. Payable B. Always an asset ____ 3. Journal C. Left side of an account ____ 4. Receivable D. Side of an account where increases are recorded ____ 5. Owners’ equity E. Copying data from the journal to the ledger ____ 6. Debit F. A decrease in shareholders’ equity ____ 7. Expense G. Always a liability ____ 8. Net income H. Revenues − Expenses ____ 9. Ledger I. Collection of accounts used in a business ____ 10. Posting J. Assets − Liabilities