Ch. 4 Vocabulary

STUDY
PLAY

Terms in this set (...)

1. Ledger
a group of accounts
2. General ledger
ledger that contains all accounts needed to prepare financial statements
3. Account number
the number assigned to an account
4. File maintenance
procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current
5. Opening an account
writing an account title and number on the heading of an account
6. Posting
transferring information from a journal entry to a ledger account
7. Correcting entry
the incorrect journal entry should be corrected with an additional journal entry