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100
The Accounting Equation
What is Assets=Liabilities+Owners Equity
100
Planning, recording and interpreting financial information is called
What is Accounting
100
A planned process for providing financial information that will be useful to management is called...
What is Accounting System
200
Organized summaries of a business's financial activities are called...
What is Accounting Records
200
Financial reports that summarize the financial condition and operations of a business are called...
What is Financial Statements
300
A business that performs an activity for a fee is called...
What is Service Business
300
A business owned by only one person is called a...
What is a Proprietorship
300
R.E.I.D.
What is Revenue, Expenses, Income Summary, Dividends
400
Anything that has a value that is owned by a business
What is an Asset
400
A sale for which cash will be received at a later date
What is Sale on Account
400
The list of temporary accounts with a zero balance
What are
500
A journal amount column headed with an account title
What is a Special Amount Column
500
A form describing the goods or services sold, the quantity, and the price
What is an Invoice
500
The list of all the procedures in the accounting cycle in order
What is Analyze Transactions, Journalize, Post, Prepare a Work Sheet, Prepare Financial Statements, Journalize Adjusting and Closing Entries, Post Adjusting and Closing Entries, and Prepare Post-Closing Trial Balance
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