| A | B |
|---|
| Accounting Cycle | Activities performed each accounting period to keep finances in order. |
| Source Document | A paper prepared as evidence that a transaction occured. |
| Invoice | A source document that lists the quantity, description, unit price and total cost of items sold & shipped to a buyer. |
| Receipt | A source document that serves as a record of cash received. |
| Memorandum | Brief written message that describes a transaction within a business. |
| Check stub | A source document that lists the same information as a check and shows balance in the account. |
| Journal | A chronological record of the transactions of a business. |
| Journalizing | The process of recording business transactions. |
| Fiscal year | An accounting period of 12 months. |
| Calendar year | Accounting period that begins on Jan 1 and ends Dec 31, |
