Accounting Chapter 7 Definitions Quiz

8 Questions | Total Attempts: 63

Accounting Chapter 7 Definitions Quiz - Quiz

Definitions part 2

Questions and Answers
  • 1. 
    The name of the item for which an account is prepared, entered at the top of the page.
  • 2. 
    The most commonly used type or account, in which there are 3 columns, one for debit, one for credit, ad one for the amount of balance. Also known as - three-column account
  • 3. 
    An accounting entry to rectify the effect of an error
  • 4. 
    ________-_______ is putting the account number in the journal, and journal page in the p.r section
  • 5. 
    The process of continuing an account or journal on a new page by carrying forward all the relevant information from the completed page.
  • 6. 
    The process of setting up a new account in the ledger
  • 7. 
    The process of transferring the accounting entries from the journal to the ledger (2nd)
  • 8. 
    A mistake caused by the interchanging of digits when transferring figures from one place to another. The difference of this errors always divisible by 9.
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