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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
S2-12 (Learning Objective 2: Define accounting terms) Accounting has its own vocabulary and basic relationships. Match the accounting terms at the left with the corresponding definition or meaning at the right.
             1. Debit                        A. Always an asset
            2. Expense                       B. Side of an account where increases are recorded
             3. Net income                  C. Record of transactions
             4. Ledger                      D. The cost of operating a business; a decrease in
            5. Posting                         stockholder’s equity
            6. Normal balance              E. Grouping of accounts
            7. Payable                      F.  Copying data from the journal to the ledger
            8. Journal                     G. Revenues – Expenses
            9. Receivable                  H. Always a liability
           10. Owners’ equity              I. Left side of an account
J. Assets – Liabilities
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