Ch1
Ch2
Ch3
Ch4
Ch5
100
planning, recording, analyzing, and interpreting financial information.
What is accounting
100
A financial statement that reports assets, liabilities, and Owner's Equity on a specific date
What is a balance sheet
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 person who plans, summarizes, analyzes, and interprets accounting information
What is an accountant
200
assets
What is on the left
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
the recording of credit and debit parts of a transaction
What is double-entry accounting
300
a person who does kinds of office tasks, including some accounting tasks
What is a general office clerk
300
the amount remaining after the value of all liabilities is subtracted from the value of all assets
What is owner's equity
300
assets taken out of a business for the owner's personal use
What is a withdrawal
300
an amount recorded on the right side of a T account
What is credit
300
a business paper from which information is obtained for a journal entry
What is a source document
400
the principles of right and wrong that guide an individual in making decisions
What is ethics
400
anything of value that is owned
What is an asset
400
the sum of the left side equals the right side
What is balance
400
a list of accounts used by a business
What is a chart of accounts
400
a business form ordering a bank to pay cash from a bank account
What is a check
500
the use of personal ethics in making business decisions
What is business ethics
500
an amount owed by a business
What is a liability
500
an expense
What is rent
500
an account that reduces a related account on a financial statement
What is a contra account
500
a business form giving written acknowledgment for cash recieved
What is a reciept
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