Part One-Iilentifying Accounting Terms

Part One-Iilentifuing Accounting Tennsldentiting Accounting TehrAnolyzing Accounrs Aff€cied by Adiustins ond Closins EniriesAnolyzing Accounl, After Closing Entries Are PostedAnolyzing Adiuting oid Closing Enlrie3loiolDirections: Select the one term in Column I that best fits each definition in Columnll. Print the letter identifying your choice in the Answers column.45 Pts.Colvmn IA. accollnting cycleB. adjusiing entries2.C. closinS entricsD. pcrmanent accounts 4.E. post-closing trial balance 5.F. temporary accountsColumn IIJournal entries recorded to update general l€dger accountsat the end of a fiscal period. (p. 192)Accounts uscd to accumulaie information from one fiscalperiod to the next. (p. 198)Accounts used to accumulate information until it istransferred to the owner's capital ac€ount. (p. 197)lournal entries used to prepare temporary accounts for an€w fiscal period. (p. 197)A trial balance prepared after the closjng entries are postedQ.20nThe series of accounling a€tivities included in recordingfinancial information for a fiscai period. (p. 208)Answers1.2.3.4.5.6,CoPYRTGHT O SoUTH-WESTERN EDUcaroNAt PUBUsHiNG Chopbr 9 . 33