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;
5 Cards in this Set
- Front
- Back
|
permanet accounts |
Accounts used to accumulate information from one fiscal period to the next |
|
|
temporary accounts |
Accounts used to accumulate information until it is 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 recording financial information for a fiscal period |
