Following are a number of the key terms and concepts introduced in the chapter, along with a list of corresponding definitions. Match the appropriate letter for the key term or concept to each definition provided (items 1–15). Note that not all key terms and concepts will be used.
a. Balance sheet equation | h. Account |
b. Transactions | i. Chart of accounts |
c. On account | j. T-account |
d. Accrued (or accrual) | k. Account balance |
e. Journal | l. Debit |
f. Post (posting) | m. Credit |
g. Ledger | n. Entry |
o. Balance | s. Adjusting journal entry |
p. Charge | t. Closing the books |
q. Journal entry | u. Transaction analysis methodology |
r. Source document |
|
____________ Used to describe a purchase or sale for which cash will be paid or received at a later date. A “credit” transaction.
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