98. The year for which companies prepare their financial statements is their fiscal year.
99. Generally accepted accounting principles require that a business's fiscal year must end on December 31.
100. A list of a company's ledger accounts and their account numbers is a chart of accounts.
101. Source documents provide information that serves as the basis for entries into the accounting system. Examples of source documents include invoices and deposit tickets.
102. A company's general ledger provides a chronological record of its business transactions.
103. The general journal is a list of a business's accounts and their account numbers.
104. An increase to the account Dividends would be recorded as a debit; as a result, the account Dividends normally has a debit balance.
105. A liability account normally has a debit balance.
106. The balance in Retained Earnings is decreased by debiting the account.
107. The left side of a T-account is the credit side.