ACCOUNTING - 2&3

Assets = Liabilities + Equity

A list of account titles to be used in the recording.

an economic activity that directly changes a business enterprise's financial condition or directly affects its result of operations.

The book of original entry is called the

The process of recording in the journal is called

the accounting book where the business transactions are finally recorded hence the term "final entry".

The book of final entry is called the

The process of recording in the ledger is called

 the value received by the business or what the business paid for

 the value parted with or given up by the business or the source of the value received by the business.