Bookeeping Week2 VocabularyF lash Cards

Front

What is Accounting?

Back

Accounting is the process of recording, classifying, interpreting, summarizing, and communicating the company’s financial information to the stakeholders.

Front

Bookkeeping

Back

The recording of the day to day business financial transactions.

Front

Accounting Cycle

Back

Accounting cycle is the step by step process to record, process, and display business activities/transactions.

Front

Business

Back

Business is an organization where products or services are exchanged for money., An organization where products or services are exchanged for money., an organization that sells goods or services for a profit., Business is an organization that sells goods or services for a profit.

Front

Business transaction

Back

Business transaction is an activity, such as selling, buying, or providing services, that can be measured in terms of money.