Accounting Terminology
100
Transfer of information from a journal to the general ledger.
What is posting?
200
A three-column account that provides a running balance balance on each line.
What is the balance-column ledger account?
300
A list of the names and account numbers of all of the accounts in a ledger.
What is a chart of accounts?
400
A systematic check of accounting records and procedures by an accountant.
What is an audit?
500
It records the assets, liabilities and owner's equity in a journal when a business first begins operations.
What is the opening entry?
M
e
n
u