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ch 6
| Term | Definition |
|---|---|
| accounting cycle | actives performed in an accounting period that help the business keep its records in an orderly fashion |
| calender year | accounting period that begins on January 1 and ends December 31 |
| check stub | a source document that lists the same information that appears on a check and shows the balance in the checking account before and after each check is written |
| fiscal year | an accouting period of tweleve months |
| general journal | an all purpose general in which all transactions of a business may be recorded |
| invoice | source document that lists the quantity unit price description an total cost of items and shipped to buyer |
| journal | chronological record of the transactions of a business |
| journalizing | process of recording business transactions in a journal |
| memorandum | brief written message that describes a transaction that takes place within a business |
| receipt | source document that serves as a record of cash recvied |
| source document | paper prepared as evidence that a transaction occurred |
Created by:
jcoghlan19
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