Quiz 2 ACC question 1

52-16 (book/static) Question Help Accounting has its own vocabulary and basic relationships. Match the accounting terms at the left with the corresponding definition or meaning at the right. Definition or Meaning Accounting Term 1. Posting 2. Expense 3. Debit 4. Trial balance 5. Equity 6. Net income 7. Receivable 8. Chart of accounts 9. Payable 10. Journal 11. Normal balance 12. Ledger A. The cost of operating a business; a decrease in stockholders' equity B. Always an asset C. Side of an account where increases are recorded D. Lists a company's accounts and account numbers (no account balances in this item) E. Copying data from the journal to the ledger F. Assets - Liabilities G. Revenues - Expenses H. Lists all accounts with their balances 1. Always a liability J. Record of transactions K. Left side of an account L. The book of accounts and their balances