KeyTermsPage78AngelReview

A List of all accounts used by a business.

• DEBIT
• CREDIT
• T ACCOUNT 
• CHART OF ACCOUNTS

SYSTEM TO ANALYZE AND RECORD A TRANSACTION
(recognizes the different sides of business transactions as debits and credits)

• Asset
• DOUBLE ENTRY 
• LEDGER
• OWNERS EQUITY

is an entry on the left side of an T account

• DEBIT
• CREDIT
• LEDGER
• LIABILITY

AN EFFICIENT TOOL FOR USING DOUBLE-ENTRY ACCOUNTING
(help the accountant analyze the parts of a business transaction.)

• T ACCOUNT
• LEDGER
• REVENUE
• Withdrawals

Whether a system is manual or electronic,accounts are grouped together in a ?
(*GENERAL .... ?)

• ledger
• expense
• investment
• normal balance

is an entry on  the RIGHT side of an T  account

• debit
• revenue
• credit
• asset

always on  the side used to record increases to the account

• normal balance
• temporary accounts
• permanent accounts
• cash in bank