In each blank, try to type in the
word that is missing. If you've
typed in the correct word, the
blank will turn green.
If your not sure what answer should be entered, press the space bar and the next missing letter will be displayed. When you are all done, you should look back over all your answers and review the ones in red. These ones in red are the ones which you needed help on. Term: AccountDefinition: A location within an accounting system where increases and decreases in a specific asset, liability, , revenue, or expense are recorded and stored. Term: balanceDefinition: The difference between the increases (including the balance) and decreases in an account. Term: column accountDefinition: An account with debit and credit columns for recording entries and another column for showing the balance of the after each entry. Term: Chart of Definition: A list of used by a company that includes an identification number for each account. Term: Compound entryDefinition: A journal entry that affects at least three . Term: CreditDefinition: Recorded on the right side; an that decreases asset and expense accounts, or increases liability, equity, and revenue accounts. Term: CreditorDefinition: Individuals or organizations to receive payments from a company. Term: Definition: Recorded on the left side; an entry that increases asset and expense accounts, and decreases liability, , and revenue accounts. Term: DebtorsDefinition: Customers and others who owe a . Term: Debt Definition: A ratio of liabilities to total assets; used to describe risk associated with a company's debts. Term: -entry accountingDefinition: An accounting in which each transaction affects at least two accounts and has at least one debit and one credit. Term: General Definition: A record of the and credits of transactions; can be used to record any transaction. Term: Definition: A record where transactions are before they are posted to ledger accounts; also called book of original entry. Term: JournalizingDefinition: Process of recording transactions in a . Term: Definition: Record containing all of a business. Term: 's capitalDefinition: Account showing the 's claim on company assets; equals owner investments plus net income (or less net losses) minus owner withdrawals since the company's inception; also referred to as equity. Term: Posting reference (PR) Definition: The process of transferring journal entry information to the . Term: documentsDefinition: Another name for business papers; these documents are the source of information for accounting entries and can be in paper or electronic form. Term: T-accountDefinition: An account form used as a tool to show the of transactions and events on specific accounts. Term: balanceDefinition: A list of accounts and their balances at a point in time; debt balances equal total credit balances. Term: revenuesDefinition: Liabilities created by advance cash payments from for products or service; revenues are earned when the products or services are delivered in the future. |
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Created by:
DarciEven
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