Book Keeping and Keyboarding Review Flashcards

This flashcard set covers essential topics from business book-keeping, source documents, types of journals, double-entry accounting principles, and the basics of keyboarding and typewriter use.

Book Keeping

The process of recording all business transactions in an accurate and systematic way.

Business Records

Written documents that show the details of business transactions carried out by a business.

Source Documents

Original documents that provide evidence that a business transaction has taken place, such as receipts and invoices.

Receipt

A document issued by a seller to a buyer as proof that payment has been made.

Invoice

A document sent by the seller to the buyer showing details of goods sold and the amount to be paid.

Credit Note

A document issued to inform a customer that their account has been credited, usually when goods are returned.

Debit Note

A document sent to inform a customer that their account has been debited.

Cheque

A written order from an account holder to a bank to pay a specified sum of money to a person named on it.

Crossed Cheque

A cheque with two parallel lines across it, meaning it cannot be cashed over the counter and must be paid into a bank account.

Open Cheque

A cheque that can be cashed directly at the bank counter.

Special Journals

Books used in business to record specific types of transactions separately to simplify book-keeping.

Sales Journal

A book used to record all goods sold on credit to customers.

Purchases Journal

A book used to record all goods bought on credit from suppliers.

Cash Receipts Journal

A journal used to record all money received by the business, including cash sales and money from debtors.

Cash Payments Journal

A journal used to record all money paid out by the business, such as for salaries and rent.

Journal

The first book of original entry where day-to-day transactions are recorded in the order they occur.

Double Entry Book-keeping

An accounting system based on the principle that for every debit entry, there must be a corresponding credit entry.

Assets

Things that the business owns, such as cash, furniture, buildings, and equipment.

Liabilities

What the business owes to others, such as loans, creditors, and bank overdrafts.

Bank Overdraft

A type of short-term loan that allows a person or business to withdraw more money than they have in their bank account.

Expenses

Costs incurred in running the business, such as rent, salaries, transport, and electricity.

Ledger

A book where all accounts are kept permanently, typically prepared in a T-form.

Personal Accounts

Accounts belonging to individuals, firms, or organizations, following the rule: Debit the receiver, Credit the giver.

Real Accounts

Accounts of assets such as cash and land, following the rule: Debit what comes in, Credit what goes out.

Nominal Accounts

Accounts of expenses, losses, income, and gains, following the rule: Debit all expenses/losses, Credit all income/gains.

Keyboarding

The process of using fingers to type information on a keyboard accurately and efficiently.

Manual Typewriter

A device for typing that is operated by hand without the use of electricity.

Electric Typewriter

A device that uses electricity to make typing on paper easier.

Electronic Typewriter

A typewriter that includes computer-like features such as memory and a display.

Platen

The roller on a typewriter that supports the paper during typing.

A4 Paper Size

The most common paper size for typing, measuring $210 \times 297\,mm$.

Letter Paper Size

A standard paper size measuring $8.5 \times 11\text{ inches}$.

Home Row Keys

The starting position for fingers on a keyboard: A, S, D, F for the left hand and J, K, L, ; for the right hand.

Alphanumeric Keys

Keys on the keyboard that include all letters (A-Z) and numbers (0-9).

Service Keys

Keys that perform tasks related to formatting or editing, such as Enter, Backspace, Delete, and Tab.

Function Keys

Keys labeled F1-F12 that perform specific actions depending on the software, such as F1 for help or F12 for Save As.

Control (Ctrl) and Alternate (Alt) Keys

Keys used in combination with other keys to perform computer commands.