Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter5
100
Planning, recording, analyzing, and interpreting financial information.
What is accounting?
100
A business that preforms 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-chart?
100
A form for recording transaction 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
A business owned by one person.
What is a proprietorship?
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
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 the owner's personal use.
What are 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 a special amount column?
400
A business selling accounting services to the general public.
What is accounting firm?
400
An amount owed by a business.
What is a liability?
400
A sheet prepared on any date to report information about the assets, liabilities, and owner's equity of a business.
What is a balance sheet?
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
A person who plans, summarizes, analyzes, and interprets accounting information.
What is an accountant?
500
A business activity that changes assets, liabilities, or owner's equity.
What is a transaction?
500
Assets and liabilities plus owner's equity must..
What is equal?
500
A list of accounts used by a business.
What is a chart of accounts?
500
Information for each transaction recorded in a journal?
What is an entry?
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