Ch 1
Ch 2
Ch 3
Ch 4
Ch 5
100
Planning, Recording, analyzing and interpreting financial information.
What is accounting
100
A business that performs an activity for a fee
What is a service business
100
An increase in owners equity due to 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
What is a journal
200
A planned process for providing financial information
What is an accounting system
200
A business owned by one person
What is a proprietorship
200
decrease in owners equity from a business
What is an expense
200
Amount recorded on the left of a T account
What is debit
200
the act of recording transactions
What is journalizing
300
Organized summaries of a business's financial activities.
What are accounting records
300
anything of value that is owned
What is an asset
300
assets taken out for the owners personal use
What is withdrawal
300
an amount recorded on the right of a T account
What is credit
300
A journal headed with an account title
What is a special amount column
400
A business selling accounting services
What is a public accounting firm
400
Financial rights to the assets of a business
What is an equity
400
Cash paid for rent
What is Rent expense
400
How each account is entered in accounts
What is adding and subtracting
400
A journal entry not headed with an account title
What is a general amount column
500
An accountant employed by a single business
What is a private accountant
500
An amount owed by a business
What is a liability
500
Cash paid for water bill
What is utilities expense
500
How is each account balance changed
What is increasing and decreasing
500
The recording of debit and credit parts
What is double entry accounting
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