click below
click below
Normal Size Small Size show me how
Accounting Chap 8
Vocab
Term | Definition |
---|---|
Permanent Accounts | Accounts used to accumulate information from one fiscal period to the next. |
Closing Entries | Journal entries used to prepare temporary accounts for a new fiscal period. |
Temporary Accounts | Accounts used to accumulate information until it is transferred to the owner's capital account. |
Post-Closing Trial Balance | A trial balance prepared after the closing entries are posted. |