Basic accounting equation
Vocab.
100
Basic accounting equation
What is Assets=Liabilities+Owners Equity(+revenue-expenses)
100
The action or process of keeping financial accounts
What is Acounting
200
Order of debits and credits
What is debits on the left, credits on the right
200
The resources owned bu a business
What is assets
300
list the + and - of the accounting equation
What is +-, -+, -+, -+, +-
300
The rights of creditors that represent debts of the business
What is Liabilities
400
Debits=_______
What is credits
400
The owners right to the assets of the business
What is Owners Equity
500
Accounts payable is under the _________ part of the accounting equation.
What is liabilities
500
A business owned by one individual
What is proprietorship
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