CH1
CH2
CH3
CH4
CH5
100
Planning, recording, analyzing, and interpreting financial information.
What is accounting
100
Anything of value that is owned
What is asset
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 T account
100
A form for recording transactions in chronological order
What is journal
200
A planned process for providing financial information that will be useful to management
What is account system
200
Financial rights to the assets of a business
What is equities
200
A decrease in owner's equity resulting from the operation of a business
What is expense
200
An amount recorded on the left side of a T account
What is debit
200
Recording transactions in a journal
What is journaling
300
organized summaries of a business' financial activities
What is accounting records
300
An amount owed by a business
What is liability
300
Assets taken out of a business for the owner's personal use
What is withdrawals
300
An amount recorded on the right side of a T account
What is credit
300
A journal amount column headed with an account title
What is special amount column
400
An person who is employed by a single business
What is private accountant
400
An equation showing the relationship among assets, liabilities, and owner's equity
What is accounting equation
400
asset accounts
What is the heading on the left side of the balance sheet
400
A list of accounts used by a business
What is chart of accounts
400
A journal amount column that is not headed with an account title
What is general amount column
500
The principles of right and wrong that guide an individual in making decisions
What is ethics
500
The account used to summarize the owner's equity in business
What is capital
500
Liability and owner's equity accounts
What are the headings on the right side of the balance sheet
500
An account that reduces a related account on a financial statement
What is contra account
500
A form on which a brief message is written describing a transaction
What is memorandum
M
e
n
u