3537598
Description
Flashcards by brandonseale, updated more than 1 year ago
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Created by brandonseale
over 8 years ago
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| Question | Answer |
| Question: What are the Processes used to Record Financial Transactions. | Answer: General Journals, Transactions, Trial Balance and Financial Statements. |
| Question: Give Definitions for a Book of Prime Entry and a Ledger. | Answers: Book of Prime Entry: a Record of a Business' Transactions Ledger: a Book or Another Type of Collection of Financial Accounts |
| Question: Describe the Purposes of the Contents of the Books of Prime Entry. | Answer: It is where transactions are first recorded. It is made up of: a Cash Book; a Petty Cash Book; a Purchase Day Book and a Journal. |
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