Accounting has its own vocabulary and basic relationships. Match the accounting terms at left with the corresponding definition or meaning at right.
____ 1. Debit A. The cost of operating a business; a decrease in
____ 2. Expense stockholders equity
____ 3. Net income B. Always a liability
____ 4. Ledger C. Revenues Expenses
____ 5. Posting D. Grouping of accounts
____ 6. Normal balance E. Assets Liabilities
____ 7. Payable F. Record of transactions
____ 8. Journal G. Always an asset
____ 9. Receivable H. Left side of an account
____ 10. Owners equity I. Side of an account where increases are recorded
J. Copying data from the journal to the ledger