Credit – an agreement to pay for a purchase at a later time, an entry to the right side of a T account.
Chart of Accounts – List of names and numbers of a company's accounts
A job-cost record is a source document, but individual items of the job-cost record may also have source documents. – True
Cancelled Check. – A check that has been paid by the bank and returned to the drawer for recordkeeping.
income summary – a temporary account used in closing revenue and expense accounts
what is the job of accounting – analyze, record, post and prepare a trial balance
TEST!! Sales allowance – Give them discount for error
Other assets – Resources that do not fit well into one of the other asset classifications or are small enough that they do not warrant separate reporting
Which United States Supreme Court holding impacted the way that religious practice was approached in public schools?
Capital Expenditure – Expenditure that can impact on the business for more than a year
contributed capital – Refers to the amount that stockholders invest in the company–included under the title common stock
Revenue accrual – Revenue and expense are recorded in accordance with the all events test
Normal balance – The side of the account that is increased
A synonym for fair wear and tear of a durable asset is – Depreciation
Which United Stаtes Supreme Cоurt hоlding impаcted the wаy that religiоus practice was approached in public schools?
Net Income – The difference between total revenue and total expenses when total revenue are greater