Flashcards: The A's of Accounting

Method that produces larger depreciation charges in the early years of an asset's life and smaller charges in its later years

Record within an accounting system in which increases & decreases are entered stored in a specific asset liability, equity, revenue, or expense

Difference between total debits & total credits (including the beginning balance) for an account

Balance sheer that lists assets on the left side & liabilities ad equity on the right

Liability created by buying goods or services on credit; backed by the buyer's general credit standing