ch 1
ch2
ch3
ch4
ch5
100
a planned process for providing financial information that will be useful to management
What is accounting system
100
a business that performs an activity for a fee
What is service business
100
an increase of owners’ equity resulting from the operation of a business
What is revneue
100
accounting device used to analyze transactions
What is t account
100
a form for recording transactions in chronological order
What is journal
200
planning recording analyzing and interpreting financial information
What is accounting
200
a business owned by one person
What is proprietorship
200
a decrease in owners’ equity resulting from the operation of a business
What is expense
200
amount recorded on the left side of a t account
What is debit
200
recording transactions in a journal
What is journalizing
300
a person who plans summarizes analyzes and interprets accounting information
What is accountant
300
anything of value that is owned
What is asset
300
assets taken out of a business for the owners personal use are
What is withdrawls
300
amount recorded on the right side of a t account
What is credit
300
a business form ordering a bank to pay cash from a t account
What is check
400
a business selling accounting services to the general public
What is public accounting firm
400
financial rights to the assets of a business
What is equities
400
a revenue transaction increased
What is owners equity
400
account that reduces a related account on a financial statement
What is contra account
400
a business form giving written acknowledgement for cash received
What is reciept
500
an accountant who is employed by a single business
What is private accountant
500
the account used to summarize the owners’ equity in business
What is capital
500
a decrease in owners’ equity because of
What is withdrawl
500
list of accounts used by business
What is chart of accounts
500
a form on which a brief message is written describing a transaction
What is memorandum
M
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