Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
Planning, recording, analyzing, and interpret financial information
What is accounting?
100
A business that performs an activity for a fee
What is service business?
100
An asset that is normally withdrawn by an owner for personal use.
What is cash?
100
A list of accounts used by a business
What is a chart of accounts?
100
Information for each transaction recorded in a journal
What is an entry?
200
Organizing summaries of a business’ financial activities
What is is account records?
200
Financial rights to the assets of a business
What are equities?
200
Asset taken out of a business for the owner’s personal use
What are withdrawals?
200
An account that reduces a related account on a financial statement
What is a contra account?
200
Recording transactions in a journal
What is journalizing?
300
A person who does general accounting work plus some summarizing and analyzing of accounting information
What is a book keeper?
300
An equation showing the relationship among assets, liabilities, and owner’s equity
What is a accounting equation?
300
An increase in owner’s equity resulting from the operation of a business
What is revenue?
300
The amount recorded on the right side of a T account
What is credit?
300
A business form giving written acknowledgement for cash received
What is a receipt?
400
Us of personal ethics in making business decisions
What are business ethics?
400
A record summarizing all the information pertaining to a single item in the accounting equation
What is an account
400
A decrease in owner’s equity resulting from the operation of a business
What is expense?
400
The amount recorded on the left side of a T account
What is debit?
400
Recording transactions in chronological order
What is a journal?
500
A planed process for providing financial information that will be useful to management
What are accounting systems?
500
A financial statement that reports assets, liabilities, and owner’s equity on a specific date
What is a balance sheet?
500
Transactions that decrease owner’s equity
What is paid cash for expenses, and personal use?
500
An accounting device used to analyze transactions
What is a T account?
500
A form on which a brief message is written describing a transaction
What is a memorandum?
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