Bookkeeping Flashcards
1
Q
What is the accounting cycle?
A
Transaction>Record>
Summarize>Financial Report>
2
Q
How do you learn the language of business?
A
Practice
3
Q
What is bookkeeping?
A
The routine, systematic method of accumulating, analyzing, inputting, and summarizing financial information.
4
Q
What is a transaction?
A
A business exchanges something and gets something in return.
