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QBO Chapter 9

Murranda Lindgren Inglés 15 fichas

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  1. 1accounting periodcan be one month, one quarter or one year
  2. 2chart of accountslist of accounts used by company
  3. 3transactionsall items recorded during accounting period for items from customers, vendors, employees and owners
  4. 4trial balanceall accounts with balances at end of accounting period
  5. 5adjustementsdone at end of accounting period before financial statements are prepared
  6. 6adjusted trial balanceprepared after adjusts to check is accounts balance
  7. 7financial statementsprepared for external users
  8. 8prepaid itemsitems that are prepaid
  9. 9unearned itemsitems customers paid for but company has not provided product or service
  10. 10accrued expensesexpenses accrued but not paid
  11. 11accrued revenuesincome accrued but not collected or received
  12. 12accrual basis of accountingattempts to match expenses with the revenue it generated
  13. 13profit & lossincome and expenses
  14. 14balance sheetassets and liabilities
  15. 15—

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Fichas sobre QBO Chapter 9, creado por Murranda Lindgren el 13/11/2023.
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