a journal of financial transactions entered on the day that they happened-daybooks

'post'

'return'

a form which is submitted to a tax authority

'asset'
a resource in the possession of a company which is available for use
'income'

all monies received

'expenditure'
all monies spent
'incorrect'

wrong, false
'authorise'

to give permission to happen

'single entry bookkeeping'

a simple system of keeping financial records, where transactions are entered only once
ability'

a company's debt or obligation

'l
i

'nominal code'

a reference number which allows the grouping of financial transactions

'ensure'
to make certain that something happens
'double entry bookkeeping'

a system of keeping financial records where each transaction has a debit and a credit
posted
'T-accounts'