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Chapter 6

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Accounting Cycle   Activities performed in an accounting period that help the business keep its records organized  
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Calendar Year   Accounting period that begins on January 1 and ends on December 31  
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Check Stub   A source document that lists the same information that appears on a check and shows the balance in the checking account  
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Fiscal Year   An accounting period of 12 months  
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General Journal   An all purpose journal in which all the transactions od a business may be recorded  
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Invoice   A source document that lists the quantity, description, unit price. and total cost of the items shipped.  
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Journal   A chronological record of the transactions of a business  
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Journalizing   The process of recording business transactions in a journal  
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Memorandum   A brief written message that describes a transaction  
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Receipt   A source document that serves as a record of cash received  
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Source Document   Evidence  
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