Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 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 an 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 Accounting System
200
A business owned by one person
What is a Proprietorship
200
A decrease in owner's equity resulting from the operation of the business
What is Expense
200
The amount recorded on the left side of the T-account
What is Debit
200
Recording transactions in a journal
What is Journalizing
300
Organized summaries of a business' financial activities
What is Accounting Records
300
Anything of value that is owned
What is an Asset
300
Assets taken out of a business for owner's personal use
What are Withdrawals
300
An amount recorded on the right side of the T-account
What is Credit
300
Information for each transaction recorded in a journal
What is Entry
400
A person who plans, summarizes, analyzes, and interprets accounting information
Who is an Accountant
400
Financial rights to the assets of a business
What are Equities
400
Goods, and services provided such as telephone companies
What are Utilities
400
An account that reduces a related account on a financial statement
What is a Contra Account
400
A business paper which information is obtained for a journal entry
What is Source Document
500
A person who records, sorts, and files accounting information
Who is an Accounting Clerk
500
An account owned by a business
What is a Liability
500
It affects revenue, expense, and withdrawals
What is Owner's Equity
500
Increases owner's capital
What is Revenue
500
A business form ordering a bank to pay cash from a bank account
What is a Check
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