List of Accounts
A list of accounts used by a business to record its financial transactions.
source: College Accounting Chap 1-13 (Price, Haddock, Farino), 15th edition (pgs. 72 - 73)
What is a Chart of Accounts?
An entry on the Left side of an account.
source: College Accounting Chap 1-13 (Price, Haddock, Farino), 15th edition (pgs. 72 - 73)
What is a Debit?
An accounting system that involves recording the effects of each transaction as debits and credits.
source: College Accounting Chap 1-13 (Price, Haddock, Farino), 15th edition (pgs. 72 - 73)
What is the Double-entry system?
A type of account, looks like a "T", used to analyze the effects of a business transaction.
source: College Accounting Chap 1-13 (Price, Haddock, Farino), 15th edition (pgs. 72 - 73)
What is a T-Account?
An accounting error involving misplaced digits in a number.
Example: typing 327 instead of 372
source: College Accounting Chap 1-13 (Price, Haddock, Farino), 15th edition (pgs. 72 - 73)
What is Transposition?