PUHSD Ch 8 Vocabulary for ACC 1-2

Front

Accounts used to accumulate information from one fiscal period to the next are called? Options: Permanent Accounts, Temporary Accounts, Capital Accounts, Chart of Accounts

Back

Permanent Accounts

Front

Journal entries used to prepare temporary accounts for a new fiscal period are called?

Back

Closing entries

Front

Accounts used to accumulate information until it is transferred to the owner's capital account are called? Options: Chart of Accounts, Capital Accounts, Permanent Accounts, Temporary Accounts

Back

Temporary Accounts

Front

A trial balance prepared after the closing entries are posted is called?

Back

Post-closing trial balance

Front

The series of accounting activities included in recording financial information for a fiscal period is called?

Back

Accounting cycle