Question # 2. Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term.

TERM	PHRASE	Number for term that matches the phrase.
1. Prepayments	Assets or liabilities created when recognition precedes cash flows.	____
2. Post-closing trial balance	Assets or liabilities created when cash flows precede recognition.	____
3. Accruals	A list of accounts and balances containing the source data for preparation of financial statements.	____
4. Unadjusted trial balance	A list of accounts and their balances prepared before the effects of internal transactions are recorded.	____
5. Adjusted trial balance	A list of only permanent accounts and their balances prepared to show that the accounting equation is in balance.	____