recordkeep test 1 Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Question | Answer |
The systematic recording of the transactions of a business is called | record keeping |
Reporting the financial results of a business is called | accounting |
Reasons for maintaining financial records | 1. plan for future 2.determines profit and loss status 3.income tax purposes |
Oldest bookkeeping system; each entry is made separately: errors are common with this method | Single entry system |
the bookkeeping system that provides a comprehensive financial picture; requires a trained/ experienced bookkeeper or accountant | Double entry system |
Called the write it once system because the same data is entered on all the forms at one time | peg board |
Used to take care of minor expenditures | petty cash |
Also called a check register; whatever is spent in the health care facility is recorded here | disbursement journal |
Form used to control petty cash expenditures | Voucher |
When establishing the petty cash fund,the check is written to cash/petty cash and entered in the disbursement journal under | Misc. |
The information on the petty cash vouchers is transferred to a | petty cash record |
The average amount of a petty cash fund is | 25-50 dollars |
when replenishing the petty cash fund, the amount of the check is | Disbursed under accounts in which it was used |
Created by:
lecopple1
Popular Medical sets