Accounting Self-Assessment Quiz

Name:_________________________ Period:____ Date:_________ Glencoe Accounting (First-Year Course) Chapter 7, Section 2

1.	Posting is the process of
		analyzing expenses
		transferring cash to a personal account
		transferring information from the general journal to individual general ledger accounts
		completing the accounting cycle

2.	The posting reference column is used to
		record the date of entry
		record the amount of the debit
		identify where the journal entry is located
		identify which ledger account is being used

3.	The fourth step of the accounting cycle is
		posting
		journalizing
		source documents
		analyzing

4.	Transactions that are itemized in the general journal
		do not always balance
		do not summarize similar transactions into the same location
		do not include activity in the Owner`s Capital account
		list all the activity for an accounting period