Using accounting vocabulary
Accounting has its own vocabulary and basic relationships.
Requirement
1. Match the accounting terms on the left with the corresponding definitions on the right.
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1.Equity |
A. Using up assets in the course of operating a business |
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2.Debit |
B. Book of accounts |
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3.Expense |
C. An asset |
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4.Net income |
D. Record of transactions |
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5.Ledger |
E. Left side of an account |
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6.Posting |
F. Side of an account where increases are recorded |
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7.Normal balance |
G. Copying data from the journal to the ledger |
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8.Payable |
H. Always a liability |
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9.Journal |
I. Revenues – Expenses = |
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10.Receivable |
J. Assets – Liabilities = |