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Honesty
Integrity
Dependability
Compassion
Consistency
100
a form on which a brief message is written describing a transaction
What is a memorandum?
100
a ledger that is summarized in a single general ledger amount
What is a subsidiary ledger?
100
A financial statement showing the revenue and expenses for a fiscal period
What is the income statement?
100
an amount owed by a business
What is a liability?
100
a business paper from which information is obtained for a journal entry
What is a source document?
200
determining that amounts are in agreement or in balance
What is proving?
200
an amount of cash kept on hand and used for making small purchases
What is petty cash?
200
recording transactions in a journal
What is journalizing?
200
A business form used to record payroll information
What is a payroll register?
200
a business form giving written acknowledgement for cash received
What is a receipt?
300
This accounting concept is used when a source document is prepared for each transaction
What is the Objective Evidence Accounting Concept?
300
This is the accounting concept in use when the business's financial information is kept separate from the owner's
What is the Business Entity Accounting Concept?
300
the amount of goods on hand
What is inventory?
300
an increase in owner's equity resulting from the operation of a business
What is revenue?
300
This is the amount added to the cost of merchandise to establish the selling price
What is Markup?
400
a trial balance prepared after the closing entries are posted
What is the post-closing trial balance?
400
An account in a general ledger that summarizes all accounts in a subsidiary ledger
What is a controlling account?
400
A form prepared by the seller to advise the amount that is owed by the buyer
What is a debit memorandum?
400
Cash or other assets expected to be exchanged for cash or consumed within a year
What are current assets?
400
verifying that the information on a bank statement and a checkbook are in agreement
What is reconciling or reconciliation?
500
assets taken out of a business for the owner's personal use
What is a withdrawal?
500
a proof of the equality of debits and credits in a general ledger
What is a trial balance?
500
a business in which two or more people combine their assets and skills
What is a partnership?
500
A computer used to collect, store, and report all the information of a sales transaction
What is a Point-of-Sale (POS) terminal?
500
A percentage relationship between one financial statement item and the total that includes that item
What is a component percentage?