NAME:

SECTION:
SCORE:
PROFESSOR:

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accumulate information in a book called the ledger.

2 The process of determining the balance of an account starts with
3 The
indicates the names and numbering system of
accounts.

4. When supplies are used up or consumed, they become a(n).

5. The book of original entry usually refers to a(n).
6. The process of transferring information from a journal to a ledger is called

7. A is a group of accounts.

8.
A iS an informal report that lists accounts and their

balances.

9 A is an accounting period that runs for any 12 consecutive

months.

10. deals with the process of updating the PR of the journal

from the account number of the ledger to indicate to which account in the ledger

information has been posted.

11. Recording P885.000 as P85.50 is an example of a
12. The process of recording transactions in a journal is called

13. Entries are journalized in a

14. A called
ledger is often a .

15. are prepared for parts of a fiscal year (monthly, quarterly).

. The positive balance of each account is referred to as its

17. The portion of a journal entry is indented and placed below the

portion.
three or more accounts is called a
A journal entry requiring
.

19. on the balance sheet.

Prepaid rent is a(n).