Posting Process Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
| Question | Answer |
| General ledger | The group of accounts used by a business. |
| Ledger Account Form | the accounting stationery used to record financial information about specific accounts. |
| Posting | the process of transferring information from the general journal to individual general ledger accounts, the fourth step in the accounting cycle. |
| Proving the ledger | Adding all debit balances and all credit balances of ledger accounts and then comparing the two totals to see whether they are equal. |
| Trial balance | A formal way to prove that debits equal credits. |
| Transposition error | occurs when two digits within an amount are accidentally reversed, or transposed. |
| Slide error | Accidental misplacement of a decimal point in an amount. |
| Correcting entry | An entry made to correct an error in a journal entry discovered after posting. |
Created by:
yparson
Popular Accounting sets