Term
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Definition
business' diary
[chronological order]
-record of original entry- |
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Term
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Definition
series of steps during each accounting period
[classify-summarize-produce info] |
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Term
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Definition
| financial record entering all types of business transaction |
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Term
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Definition
| recording transactions in general journal |
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Term
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Definition
| chain of reference makes possible to trace information-locate errors-prevent fraud |
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Term
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Definition
| journal entry which contains more than one debit or credit |
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Term
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Definition
| account forms in book or binder |
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Term
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Definition
| process of transferring data from journal to ledger |
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Term
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Definition
| master reference file for accounting system |
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Term
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Definition
| shows balance of account after each entry |
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Term
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Definition
| journal entry made to correct the erroneous entry |
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