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Chapter 4 Terms
Terms
| Question | Answer |
|---|---|
| A group of accounts | Ledger |
| A ledger that contains all acounts needed to prepare financial statements | General Ledger |
| The number assigned to an account | Account Number |
| The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current | File maintenance |
| Writing an account title and number on the heading of an account | Opening an Account |
| Transferring information from a journal entry to a ledger account | Posting |
| The incorrect journal entry should be corrected with an additional journal entry | Correcting Entry |