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Quiz

Accounting

QuestionAnswer
AR Total amount owed from customers
AP Amount owed to creditor
Chart of accounts List of accts and numbers
Jurnal Chronological record
Ledger Book of accts
Creditor To whom debit is owed
Revenue Income from sales
Expense Lost of goods
Profit Revenue>Expense
Loss Expense>Revenue
Business transaction Financial event that causes change
Acct Cycle Sequence of steps taken in accounting period
Acct Period Period of time covered by and acct report
Source Document Paper prepared as evidence
Created by: pichardoa4