Using accounting vocabulary
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.Equity | A. Using up assets in the course of operating a business |
| 2.Debit | B. Book of accounts |
| 3.Expense | C. An asset |
| 4.Net income | D. Record of transactions |
| 5.Ledger | E. Left side of an account |
| 6.Posting | F. Side of an account where increases are recorded |
| 7.Normal balance | G. Copying data from the journal to the ledger |
| 8.Payable | H. Always a liability |
| 9.Journal | I. Revenues – Expenses = |
| 10.Receivable | J. Assets – Liabilities = |
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