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9 Cards in this Set
- Front
- Back
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what is the definition of journal?
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record where all business transactions are recorded.
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what is the definition of journalize?
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record business transactions
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what is the definition of journal?
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record where all business transactions are recorded.
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what is the definition of journalize?
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record business transactions.
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what is the definiton of debit?
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a bookkeeping entry that results i n the increase of an asset ir decrease in liability.
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what is the definition of credit?
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entry on the right side of a double entry bookeeping system that represents the reduction of an asset or expense or the addition to a liability or revenue.
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what is the definition of closing entry?
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journal entries used to transfer the balances of these temporary accounts to permanent accounts.
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what is the definition of accounting?
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the process of recording and classifying the financial activities of a business.
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what is the definition of Balance sheet?
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a statement of the financial position of a business which states the assets, liabilities, and owners' equity at a particular point in time.
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