Busy. Please wait.

Forgot Password?

Don't have an account?  Sign up 

show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.

By signing up, I agree to StudyStack's Terms of Service and Privacy Policy.

Already a StudyStack user? Log In

Reset Password
Enter the email address associated with your account, and we'll email you a link to reset your password.

Remove ads
Don't know (0)
Know (0)
remaining cards (0)
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards

Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

recordkeep test 1

The systematic recording of the transactions of a business is called record keeping
Reporting the financial results of a business is called accounting
Reasons for maintaining financial records 1. plan for future 2.determines profit and loss status 3.income tax purposes
Oldest bookkeeping system; each entry is made separately: errors are common with this method Single entry system
the bookkeeping system that provides a comprehensive financial picture; requires a trained/ experienced bookkeeper or accountant Double entry system
Called the write it once system because the same data is entered on all the forms at one time peg board
Used to take care of minor expenditures petty cash
Also called a check register; whatever is spent in the health care facility is recorded here disbursement journal
Form used to control petty cash expenditures Voucher
When establishing the petty cash fund,the check is written to cash/petty cash and entered in the disbursement journal under Misc.
The information on the petty cash vouchers is transferred to a petty cash record
The average amount of a petty cash fund is 25-50 dollars
when replenishing the petty cash fund, the amount of the check is Disbursed under accounts in which it was used
Created by: lecopple1