Chapter 3

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Author:
strix
ID:
34310
Filename:
Chapter 3
Updated:
2010-09-12 18:37:47
Tags:
vocab
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Description:
The Accounting Information Systems
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  1. The left side of an account.
    Debit
  2. A ledger that contains all asset, liability, stockholders' equilty, revenue, and expense accounts.
    General ledger
  3. The basic form of an account.
    T account
  4. The procedure of entering transaction data in the journal.
    Journalizing
  5. A list of a company's accounts.
    Chart of accounts
  6. The most basic form of journal
    General journal
  7. An individual accounting record of increases and decreases in specific asset, liability, stockholders' equity, revenue or expense items.
    Account
  8. An accounting records in which transactions are initially recorded in chronological order.
    Journal
  9. A system that records the dual effect of each transaction in appropriate accounts.
    Double-entry system
  10. The right side of an account.
    Credit
  11. A list of accounts and their balances at a given time.
    Trial balance
  12. The procedure of transferring journal entry amounts to the ledger accounts.
    Posting
  13. The group of accounts maintained by a company.
    Ledger
  14. The system of collecting and processing transaction data and communicating financial information to interested parties.
    Accounting information system
  15. Events that require recording in the financial statements because they affect assets, liabilities, or stockholder's equity.
    Accounting transactions

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