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chapter6marcoMontez
| Term | Definition |
|---|---|
| accounting cycle | activities performed in an accounting period that helps the business keep its records in an orderly fashion |
| source document | a paper prepared as evidence that a transaction occurred |
| invoice | a source document that list the quantity, description, unit price, and total cost of the items sold and shipped to a buyer |
| receipt | a source document that serves as a record of cash received |
| memorandum | brief written message that describes a transaction that takes place within a business. |
| check stub | the check stub lists the same information that appears on a check |
| journal | a chronological record of the transactions of a business |
| journalizing | the process of recording business transaction in a journal |
| fiscal year | an accounting period of twelve months |
| calendar year | accounting period that begins on January 1 ends December 31 |
Created by:
marro
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