BA110 Unit 3 Terminology Exam

Question or Hint Answer or Word
  1. A statement to test the accuracy of total debits and credits after transactions have been recorded Accounting cycle
  2. A chain of references that makes it possible to trace information, locate errors, and prevent fraud Audit trail
  3. A ledger account form that shows the balance of the account after each entry is posted Balance ledger form
  4. Organized in the order in which the events occur Chronological order
  5. A journal entry with more than one debit or credit Compound entry
  6. A journal entry made to correct an erroneous entry Correcting entry
  7. A financial record for entering all types of business transactions; a record of original entry General journal
  8. A permanent, classified record of all accounts used in a firm’s operation; a record of final entry General ledger
  9. The record of original entry Journal
  10. Recording transactions in a journal Journalizing
  11. The record of final entry Ledger
  12. Transferring data from a journal to a ledger Posting

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