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 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 business
What is expense
200
An amount recorded on the left side of a T account
What is a 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 o a business for owners personal use
What are withdrawals
300
An amount recorded on th right side of a T account
What is a credit
300
A journal amount column headed with an account title
What is a special amount column
400
A person who plans, summarizes, analyzes and interprets accounting information
What is an accountant
400
Financial statement that reports assets liabilities and owners equityon a specific date
What is a balance sheet
400
Decreases cash and owners equity
What is paying cash to owner for personal use
400
An account that reduces a related account on a financial statement
What is a contra account
400
A journal amount column that is not headed with an account title
What is a general amount column
500
the priciples of right and wrong that guide an individual in making decisions
What is ethics
500
An amount owed by a business
What is a liability
500
increases assets and owners equity
What is recieving cash from sales
500
A list of accounts used by a business
What is a chart of accounts
500
information for each transaction recorded
What is an entry
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