LIFEPAC Accounting Unit 4
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| 🇬🇧 | 🇬🇧 |
| A device used to summarize all the changes that affect a single item on the accounting equation | Account |
| The number assigned to an account in the ledger | Account number |
| A journal in which transactions are first recorded | Book of original entry |
| A ledger to which amounts from the journal are posted | Book of secondary entry |
| A list of all the accounts used by a business entity | Chart of accounts |
| The procedure of arranging accounts in a general ledger, inserting and deleting accounts, and keeping records current | File maintenance |
| A book that contains all of the accounts needed to prepare the financial reports of a business entity | General ledger |
| A financial statement that reports the revenue, expenses, and net income or net loss of a business for a specific period of time. | Income statement |
| A group of accounts. | Ledger. |
| Writing the account title and number on the heading line of an account. | Opening an account |