Untitled Flashcards

Front

First step of the accounting cycles

Back

analyze each transaction as it happens

Front

This can be used as evidence of a sales transaction

Back

• cash registers tapes

Front

Which of the following is one of the final steps in the accounting cycle

Back

• prepare the financial statements

Front

The following is an acceptable source of documentation

Back

• signature or stamp on a document

Front

The purpose of a balance sheet

Back

•  list all assets liabilities equity as they stand at the end of a giving accounting period

Front

How many owners does a sole proprietorship have

Back

one

Front

What document is required to form a LLC

Back

articles of organization

Front

Which type of business can raise funds by selling shares of stock to the public

Back

corporation

Front

Corporations are controlled and directed by

Back

• a governance

Front

A legal entity called a corporation is known as

Back

incorporation