| A | B |
|---|
| Temporary capital accounts | used to accumulate information until it is transferred to the owner’s capital account. |
| Revenue recognition | Accounting principle that states that revenue is recorded on the date it is earned even if cash has not been received. |
| Permanent accounts | used to accumulate information from one fiscal/accounting period to the next. |
| Accounting cycle | The series of accounting activities included in recording financial information for a fiscal period. |
| Invoice | A form describing the goods or services sold, the quantity, and the price. |
| Journal | A chronological record of transactions in a business. |
| Receipt | A business form giving written acknowledgement for cash received. |
| Source document | A paper prepared as evidence that a transaction occurred. |
| Memorandum | on which a brief message is written describing a transaction. |
| Fiscal year | An accounting period of twelve months. |
| Check stub | document that lists the same information that appears on a check and shows the balance in the checking account before and after each check is written. |
| Vendor | A business from which merchandise is purchased or supplies or other assets are bought. |
