In the Beginning
. . . more
100
Organized summaries of a business’s financial activities.
What are accounting records?
100
The accounting equation.
What is Assets = Liabilities + Owners Equity?
200
Planning, recording, analyzing, and interpreting financial information.
What is accounting?
200
Anything of value that is owned.
What are assets?
300
A business that performs an activity for a fee.
What is service business?
400
A business owned by one person.
What is a proprietorship or sole proprietorship?
500
Financial reports that summarized the financial condition and operations of a business
What are financial statements?
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