QBO Chapter 9 Key terms

Beschreibung

QBO Chapter 9 Vocabulary Words
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Accounting cycle it is a series of accounting activities that a business
Trial Balance Also referred to as an unadjusted trial balance because it is prepared before adjustments
Corrections fix mistakes in the accounting system
Accrued revenues are revenues that have been earned but not yet collected or recorded
Accrued expenses are expenses that are incurred but not yet paid or recorded
Unearned items consist of revenue that we have not earned
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