| A | B |
|---|
| Transaction | A business activity that changes assets, liabilities, or net worth. |
| Payroll | A list of people who receive salary or wage payments from a business. |
| Check Register | Book in which you record the dates, amounts, and names of people or businesses to whom you have written checks. |
| Posting | Copying information from a journal entry to a ledger account. |
| Owner's Equity | The difference between assets and liabilities. |
| Cost of Goods Sold | Cost of the inventory a business sells during a particular period. |
| Cash Flow Statement | Accounting report that describes the cash that flows in and out of a business. |
| Net Cash Flow | The difference between cash receipts and disbursements. |
| Inventory | The stock of goods a business has for sale. |
| Stock Turnover Rate | Rate at which inventory of a product is sold and replaced with new inventory. |
| Operating Expenses | Expenses necessary to operate a business. |
| Perpetual Inventory Method | 12. Keeps track of inventory levels on a daily basis. |
| Account | An accounting record that summarizes all information for a particular business item. |
| Periodic Inventory Method | This method involves taking a physical inventory of your merchandise. |
| Sales | The dollar value of the goods or services a business gives to customers over a certain period. |
| Stock Card | A paper record for a single item. |
