38511862
Description
Flashcards by BRYAN VEGA, updated more than 1 year ago
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Created by BRYAN VEGA
over 1 year ago
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| Question | Answer |
| 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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