Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
planning, recording, analyzing, and interpreting financial information
What is accounting?
100
financial rights to the assets of a business
What are equities?
100
an increase in owner's equity resulting from the operation of a business
What is revenue?
100
an accounting device used to analyze transactions
What is a t account?
100
a form for recording transactions in chronological order
What is a journal?
200
a planned process for providing financial information that will be useful to management
What is an accounting system?
200
an amount owned by a business
What is a liability?
200
a decrease in owner’s equity resulting from the operation of a business
What is an expense?
200
an amount recorded on the left side of a t account
What is debit?
200
a journal amount column headed with an account title
What is the special account column?
300
a person who plans, summarizes, analyzes, and interprets accounting information
What is an accountant?
300
anything of value that is owned
What is an asset?
300
assets taken out of a business for the owner’s personal use
What are withdrawals?
300
an amount recorded on the right side of a t account
What is credit?
300
information for each transaction recorded in a journal
What is an entry?
400
a person who records, sorts, and files accounting information
What is an accounting clerk?
400
a business owned by one person
What is a proprietorship?
400
revenue, expense, and withdrawal transactions
What affects owner's equity?
400
a list of accounts used by a business
What is a chart of accounts?
400
the recording of debit and credit parts of a transaction
What is a double-entry account?
500
the principles of right and wrong that guide an individual in making decisions
What are ethics?
500
an equation showing the relationship among assets, liabilities, and owner's equity
What is the accounting equation?
500
the right side of the balance sheet contains this
What are liabilities and owner's equity accounts?
500
an account that reduces related account on a financial statement
What is a contra account?
500
a business form ordering a bank to pay cash from a bank account
What is a check?
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