Ch.1
What are the accounts on an asset side of the problem?
What is the accounting equation?
What is ALOE?
what is increase in owners equity?
what is revenue?
What is in a T account?
What is debit and credit?
What is a form for recording transactions in chronological order?
What is a Journal?
who does administrative work for banking, insurance, and other companies?
who is a financial clerk?
What does it mean if the accounting equation is "in balance"?
what is left side=right side?
What is a decrease in owners equity?
what is an expense?
What is an amount recorded on the left side of a T account?
What is debit?
What is Journalizing?
who keeps track of all the money?
what is a bookkeeper?
What must be done if a transaction increases the left side of the accounting equation?
What is the right side must also be increased?
what is assets taken out of a business?
What is withdrawals?
What is an amount recorded on the right side of a T account?
what is credit?
What is the nature of the business determines the type of journal used?
What is remember?
who uses your financial investigative powers to keep an eye on the books?
who is an auditor?
What side does Ben Furman, Capital go on?
What accounts are affected, and how, when cash is received from sales?
what is cash and owners equity they both go up?
What is the basic device used to analyze the effect of transactions on accounts?
What is a T account?
What is a journal amount column that is not headed with an account title?
What is a general amount column?
who is the mathematical expert who estimate risks and costs for insurance companies?
who is an actuary?
What is liability?
What is an amount owed by a business?
What accounts are affected, and how, by a cash payment for an expense?
cash and liabilities both go down
How is each balance changed?
What is they increase or decrease?
What is a journal amount column headed with an account title?
What is a special amount column?