click below
click below
Normal Size Small Size show me how
MOD 96-WEEK 4
Question | Answer |
---|---|
Accounting Equation | Assets=Liabilities + Proprietorship |
Accounts Receivable Trial Balance | Method of determining that the journal and the ledger are in balance |
Accrual Basis of Accounting | Income recorded when earned, and expenses are recorded when incurred |
Blanace Sheet | A finacial statement for a specific date that shows total assets, liabilities and business capital |
Bank Reconciliation | The process of proving the bank statement and checkbook balance agree |
Cash Basis Accounting | System where income is recorded when received and expenses are recorded when paid |
Endorser | The person who signs their name on the back of a check to transfer title |
General Journal | The book in which alll trasaction are first recorded: the book of original entry |
Maker | A legal party who signs a negotiable instrument |
Negotiable | Legally transferable to another party |
Payee | The person named on a check as the recipient of the funds |
Payor | The person who writes the check to another |
Petty Cash Fund | Fund maintained to pay small unpredictable cash expenditure |
Posting | Act of transferring information from one record to another |
Power of Attorney | Legal paper authorizing a person to act as another's agent |
Statement | Request for payment |
Statement of Income and Expenses | Summary of all income and expenses for a given period |
Teller | A bank employee who waits on customers |
Third Party Check | A check written to the order of the person offering payment and unknown to the payee |
Cardizem | Calcum Channel Blocker: Generic-Diltiazem hydrochloride: Used to treat angina and related chest conditions |
Nolvadex | Anti-cancer drug: Generic-Tamoxifen Citrate: To treat breast cancer in women and men |
Ritalin | Stimulant: Generic-Methylphenidate: Used to treat ADHD and narcolepsy |
Combivent | Bronchodilator: Used to treat(COPD) |
Fosomax | Anti-Osteoporosis: Generic-Alendronate Sodium: To treat or prevent osteoporosis in post menapause |