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Accounting Chapter 4
Vocabulary
7
Accounting
12th Grade
10/22/2008
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Term
Ledger
 Definition
A group of accounts.
Term
General Ledger
 Definition
Contains all accounts needed to prepare a financial statement.
Term
Account Number
 Definition
The number assigned to an account.
Term
File Maintenance
 Definition
The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.
Term
Opening an Account
 Definition
Writing an account title on the heading of an account.
Term
Posting
 Definition
Transferring from a journal entry to a ledger.
Term
Correcting Entry
 Definition
A journal entry whose job is to correct an incorrect journal entry.
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