Account Vocab Chapter 6

Wat is the accounting cycle?

• Activities performed in an accounting period that help the business keep its records in an orderly fashion.

• A paper prepared as the evidence that a transaction occurred.

• A source document that lists the quantity, description, unit price, and total cost of the items sold and shipped to a buyer.

• A source document that serves as a record of cash received.

What is a source document?

• A paper prepared as the evidence that a transaction occurred.

• A brief written message that describes a transaction that
  takes place within a business.

• A paper prepared as the evidence that a transaction occurred.

What is an invoice?

• A brief written message that describes a transaction that
  takes place within a business.

• A source document that lists the quantity, description, unit
  price, and total cost of the items sold and shipped to a buyer.

• An accounting period of twelve months.

• Accounting period that begins on January 1 and ends on December 31.

What is a receipt?

• A source document that serves as a record of cash received.

• The process of recording business transactions

• A chronological record of the transactions of a business.

• A source document that lists the same information that
  appears on a check and shows the balance in the checking account before and after each check is written.

What is memorandum?

• An accounting period of twelve months.

• A brief written message that describes a transaction that
  takes place within a business.

• Accounting period that begins on January 1 and ends on December 31.

• The process of recording business transactions.

What is a check stub?

• A chronological record of the transactions of a business.

• The process of recording business transactions.

• A paper prepared as the evidence that a transaction occurred.

• A source document that lists the same information that
  appears on a check and shows the balance in the checking account before and after each check is written.

What is a chronological record of the transactions of a business?

What is the process of recording business transactions?

What is an accounting period of twelve months?

What is an accounting period that begins on January 1 and ends on December 31?