Award: $5\mathrm{.}00$ points

Exercise $2-1($Static$)$ Identify terms associated with the measurement process $($LO$2-1)$

Listed below are several terms and phrases associated with the measurement process for external transactions.

Required:

Select the term which is most appropriately associated with the description listed.

$\backslash$table$[[$Descriptions$,],[1.$ Record of all transactions affecting a company.,$],[2.$ Determine the dual effect of business events on the accounting equation.,$],[3.$ List of accounts and their balances.,$],[4.$ Summary of the effects of all transactions related to a particular item over a period of time.,$],[5.$ Transfer balances from the journal to the general ledger.,$]]$

References

Matching

Difficulty: $1$ Easy

Exercise $2-1($Static$)$

Learning Objective: $02-01$ Identify terms associated with the Identify the basic steps in measuring external measurement transactions. process $($LO$2-1)$