Concept explainers
Listed below are several terms and phrases associated with the measurement process for external transactions.
Identify terms associate with the measurement process (LO2–1)
List A | List B |
_____ 1. Account _____ 2. Analyze transactions _____ 3. Journal _____ 4. Post _____ 5. |
a. Record of all transactions affecting a company. b. Determine the dual effect of business events on the c. List of accounts and their balances. d. Summary of the effects of all transactions related to a particular item over a period of time. e. Transfer balances from the journal to the general ledger. |
Required:
Pair each item from List A with the item from List B to which it is most appropriately associated.
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FINANCIAL ACCOUNTING (LL W/CONNECT) >IP<
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