conforming to accepted and established professional standards of conduct
What is ethical
100
a person who handles a broad range of jobs related to the making of choices and decisions about the design for a business accounting system and the preparation and explanation of financial reports
What is accountant
100
a business form ordering a bank to pay cash from a bank account
What is check
200
an account showing the total assets taken out of the business by the owner
What is drawing
200
a ledger that contains all accounts needed to prepare financial statements
What is general ledger
200
A journal with two amounts columns in which all kinds of entries can be recorded.
general journal
200
planning, recording, and interpreting financial activities
What is accounting
200
a report prepared to summarize the changes resulting from business transactions that occur during an accounting period
What is financial statement
300
an equation showing the relationship among assets, liabilities, and owner's equity
What is accounting equation
300
an organization with the legal rights of a person and which may be owned by many people
What is corporation
300
a decrease in owner's equity from the operation of business
What is expenses
300
journal entries recorded to update general ledger accounts at the end of a fiscal period
What is adjusting entry
300
The total amount of money owed to a business
What is
accounts receivable
400
an amount that is added to or subtracted from an account balance to bring the balance up to date
What is adjustments
400
a financial statement that reports assets, liabilities, and owner's equity on a specific date
What is balance sheet
400
entry-level job that can vary with the size of the company from specialization in one part of the system to a wide range of recordkeeping tasks
What is accounting clerk
400
the length of time for which a business summarizes and reports financial information
What is fiscal period
400
journal entries used to prepare temporary accounts for a new fiscal period
What is closing entry
500
financial rights to the assets of a business
What is equity
500
The account used to summarize the owner's equity in a business.
Capital
500
an account whose balance decreases another account's balance
What is contra account
500
a person who keeps regular, concise, accurate records of business transaction by entering them in accounting books
What is bookkeeper
500
The amount of money owed to the creditors of a business