The Accounting Cycle During A Period
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Last updated 11:15 PM on 2/5/26
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7 Terms
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Accounting cycle
Full set of procedures used to accomplish the measurement/communication process of financial accounting.
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External transactions
Transactions between the company and other entities.
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Account
A record of the business activities related to a particular item. p. 59
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Chart of accounts
A list of all account names used to record transactions of a company.
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Account
A record of the business activities related to a particular item.
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Retained Earnings
is a stockholders’ equity account that normally has a credit balance
Note 
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