Study Guide 4 – Part 1 – Identifying Accounting Terms – Flashcards
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A group of accounts
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Ledger
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A ledger that contains all accounts needed to prepare financial statements
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General ledger
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The number assigned to an account
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Account number
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The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current
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File maintenance
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Writing an account title and number on the heading of an account
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Opening an account
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Transferring information from a journal entry to a ledger account
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Posting
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Determining that the amount of cash agrees with the balance of the cash account in the accounting records
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Proving cash
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A journal entry made to correct an error in a previous journal entry
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Correcting entry
