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17.1: Build Your Vocabulary
Write a definition for each of the following terms and add it to your personal glossary.
financial planning
revenue
expense
financial management
accounting
generally accepted accounting principles (GAAP)
audit
business entity
fiscal period
budget
sales forecast budget
sales forecast
start-up budget
operating budget
cash budget
source document
sale on account
purchase on account
merchandise
payroll
withholding allowance
dependent
employee’s earnings record
payroll register
gross pay
account
chart of accounts
double-entry accounting
journal
journalizing
ledger
posting
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