Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
Planning, recording, analyzing, and interpreting financial information is called this
What is accounting
100
What side are the assets on?
What is the left side
100
What is a decrease in owner’s equity resulting from the operation of a business called?
What is an expense
100
What side is debit put on?
What is the left
100
What is a business form ordering a bank to pay cash from a bank account
What is a check
200
What is a planned process for providing financial information that will be useful to management?
What is an accounting system
200
When a business is started, it is expected that the business will continue to operate ____
What is indefinitely
200
What should you do if the sums of the balances are not equal?
What is check for mistakes
200
What side is credit put on?
What is the right
200
What is a business paper from which information is obtained for a journal entry
What is a source document
300
What is an organized summary of a business' financial activity called?
What is accounting records
300
List the 3 sections of a balance sheet
What are assets, liabity, and owner's equity
300
What should you do if the sums of the balances are not equal?
What is check for mistakes
300
What is the basic device used to analyze the effect of transactions on accounts?
What is a " T account"
300
What is a business form giving written acknowledgment for cash received?
What is a receipt
400
What is accounting the language of?
Business
400
What should be done if a balance sheet is not in balance
What is find the errors before moving on
400
What are assets taken out of a business for the owner’s personal use are called?
What is withdrawals
400
Asset account have normal ___ balances because assets are on the left side of the accounting equation
What is debit
400
A form on which a brief message is written describing a transaction
What is a memorandum
500
A person who plans, summarizs, analyzes, and interprets accounting information
What is an account
500
What do you write on the bottom of the balance sheet once it is balanced?
What is a double underline
500
A withdrawal _____ owner’s equity
What is decreases
500
Owner’s capital account has a normal ____ balance
What is credit
500
What accounts are affected Received cash from owner Ben Furman as an investment
What is Cash and Ben Furman Capital
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