Ch1
Ch2
Ch3
Ch4
Ch5
100
Planning, recording, and interpreting financial information is called _____
What is accounting?
100
A business owned by one person
What is a proprietorship?
100
An increase in owner's equity resulting from the operation of a business
What is revenue?
100
Accounting device used to analyze transactions
What is a T account?
100
A form for recording transactions in chronological order
What is journal?
200
A business selling accounting services to the general public is called ____
What is public accounting firm?
200
Anything of value that is owned
What is an asset?
200
A decrease in owner's equity resulting from the operation of a business
What is expense?
200
Left side of a T account
What is debit?
200
A journal amount column headed with an account title
What is special amount column?
300
A person who records, sorts, and files accounting information is called an ____
What is accounting clerk?
300
Equation showing the relationship among assets, liabilities, and owner's equity
What is the accounting equation?
300
Asset taken out of a business for the owner's personal use
What is withdrawal?
300
Right side of a T account
What is credit?
300
A journal amount column that is not headed with an account title
What is general amount column?
400
The use of personal ethics in making business decisions is called ____
What is business ethics?
400
Found on the left side of the accounting equation
What is assets?
400
Accounts on the left side of a balance sheet
What is asset accounts?
400
An account that reduces a related account on a financial statement
What is a contra account?
400
A business form ordering a bank to pay cash from an account
What is a check?
500
A person who does general office tasks, including accounting, is called ____
What is a general office clerk?
500
The right side of the accounting equation
What is liabilities, owner's equity?
500
Accounts on the right side of a balance sheet
What is liability, owner's equity accounts?
500
Cash increases on the ___side
What is debit?
500
A business paper from which information is obtained for a journal entry
What is a source document?
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