The Following Is a List of 10 Terms and Concepts $\quad$

question 95

Essay

The following is a list of 10 terms and concepts from Chapter 3:
$\quad$$\quad$$\quad$$\quad$ $\underline{\text{Terms and consepts:}}$
A. Master data $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ F. Journalize
B. Standing data $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ G. Subsidiary ledger
C. Summarize $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ H. General ledger
D. Post to subsidiary ledger $\quad$$\quad$$\quad$$\quad$ I. Information processing
E. Post to general ledger $\quad$$\quad$$\quad$$\quad$$\quad$ J. Data maintenance Required:
Listed below are ten descriptions of a term or concept. On the blank line to the left of each number, insert the capital letter from the list above of the term or concept that corresponds to the statement. A letter should be used only once.
$\underline{\text{Answers}}$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ DESCRIPTION
_______ 1. $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Add a sale to a customer's account
_______ 2. $\quad$$\quad$$\quad$$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Record a sales transactions in a book of original entry
_______ 3. $\quad$$\quad$$\quad$$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Customer credit limit
_______ 4. $\quad$$\quad$$\quad$$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Accounts Receivable and Sales accounts
_______ 5. $\quad$$\quad$$\quad$$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Change inventory prices
_______ 6. $\quad$$\quad$$\quad$$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Increase the balance in the Sales and Accounts Receivable account:
_______ 7. $\quad$$\quad$$\quad$$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Financial statement preparation
_______ 8. $\quad$$\quad$$\quad$$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Individual customer accounts receivable records
_______ 9. $\quad$$\quad$$\quad$$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Accounts receivable subsidiary ledger
_______ 10. $\quad$$\quad$$\quad$$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Prepare a trial balance.

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Definitions:

Earthworms

Invertebrate creatures that belong to the class Oligochaeta and play a key role in improving soil fertility by aerating and enriching it.

Nauseating

Causing or liable to cause a sensation of unease or disgust.

Flooding

A psychological therapy technique aimed at treating phobias and anxiety disorders by exposing the patient to their feared object or situation in a controlled environment.

Snakes

Limbless, elongated reptiles belonging to the suborder Serpentes, known for their unique method of slithering locomotion.