Accounting has its own vocabulary and basic relationships.
Requirement
1. Match the accounting terms on the left with the corresponding definitions on the right.
_______1. Posting A. Using up assets in the course of operating a
_______2. Receivable business
_______3. Debit B. Book of accounts
_______4. Journal C. An asset
_______5. Expense D. Record of transactions
_______Net income E. Left side of an account
_______7. Normal balance F. Side of an account where increases are recorded
_______8. Ledger G. Copying data from the journal to the ledger
_______9. Payable H. Always a liability
_______10. Equity I. Revenues — Expenses =_______
J. Assets — Liabilities =________