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the option to question 1 is there....we are to match the definition with appropriate accounting term QUESTION 1 Match the definition with the appropriate accounting
the option to question 1 is there....we are to match the definition with appropriate accounting term
QUESTION 1 Match the definition with the appropriate accounting term. A list of accounts and their balances at a given time. A record of all journal entries, by account The procedure of entering transaction data in the journal. Events that require recording in the financial statements because they involve an exchange affecting assets, liabilities, or shareholders' equity. An individual accounting record of increases and decreases in a specific asset liability, and shareholders equity items The left side of an account The expected debit or credit balance for a specified account The procedure of transferring journal entries to the general ledger accounts A. Normal balance B. Debit c. General Ledger D. Trial Balance E. Transactions F. Account G. Posting H. Journalizing QUESTION 2 Considering this account ACCOUNTS PAYABLE Choose the answer of the correct format A/B/C, where A-represents the normal balance (debit or credit) B - whether a debit would increase or decrease) the account C - whether a credit would (increase or decrease) the account 1. debit / increase / increase O 2. debit / increase / decrease 3. debit/ decrease / increase 0 4. debit/ decrease / decrease O 5. credit / increase / increase O 6. credit / increase / decrease 7. credit/ decrease / increase 8. credit/ decrease / decrease
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