1.Match the definitions of the accounting terms below.(KE1)

Accounting Term

Meaning (Identify Number)

Account

Journal

Ledger

Trial Balance

Double-entry accounting or book keeping

Meaning

1 Detailed record, or account of financial transactions in date order, used for future reconciliations and transfers to other accounting records

2 Compiling all ledgers into debit and credit columns that balance, which shows whether the legers are in balance

3 Recording every transaction in at least two accounts a sa way to detect errors

4 A record that keeps economic transactions by account type

5 A record of each type of asset, expense, liability, owners equity and revenue