Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
6 Cards in this Set
- Front
- Back
|
Adjusting Entries |
- journal entries recorded to update general ledger accounts at the end of a fiscal period. |
|
|
Permanent Accounts |
- accounts used to accumulate information from fiscal period to the next. |
|
|
Temporary Accounts |
- accounts used to accumulate information until it's transferred to the owner's capital account |
|
|
Closing Entries |
- journal entries used to prepare temporary accounts for a new fiscal period. |
|
|
Post-closing Trial Balance |
- a trial balance prepared after the closing entries are posted. |
|
|
Accounting Cycle |
- the series of accounting activities included in recorded financial information for a fiscal period. |
