an accounting entry that reduces the value of an asset due to an impairment of that asset; i.e. the account receivable from the bankrupt customer
A.
WRITE OFF
B.
POSTING
C.
ACCOUNTING
2.
total income before expenses.
A.
BALANCE
B.
FEE
C.
REVENUE
3.
see "net income"
A.
INCOME
B.
PROFIT
C.
ACCRUAL
4.
a written agreement to repay borrowed money; sometimes used in place of "loan"
A.
INVOICE
B.
NOTE
C.
CAPITAL STOCK
5.
a list of employees and their wages
A.
PAYROLL
B.
NET INCOME
C.
SINGLE ENTRY
6.
the process of matching one set of data to another; i.e. the bank statement to the check register, the accounts payable journal to the general ledger, etc.
A.
AMORTIZATION
B.
RECONCILIATION
C.
CASH FLOW
7.
property with a cash value that is owned by a business or individual
A.
CAPITAL SURPLUS
B.
ASSET
C.
AUDITORS
8.
the process of assigning forecasted income and expenses to accounts, which amounts will be compared to actual income and expense for analysis of variances
A.
DIVIDENDS
B.
CHART OD ACCOUNTS
C.
BUDGETING
9.
recognizing the decrease in the value of an asset due to age and use
A.
BOOKING
B.
DEPRECIATION
C.
CLOSING
10.
a record of all financial transactions within an entity
