Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
Planning, recording, analyze, and interpreting financial information
What is Accounting?
100
Equals liabilities and owner’s equity
What is Asset?
100
An increase in owner’s equity resulting from the operation of a business
What is Revenue?
100
An accounting device used to analyze transactions
What is T account?
100
A form for recording transactions in chronological order
What is Journal?
200
Accounting
What is the Language of Business?
200
A business activity that changes assets, liabilities, an owner’s equity
What is Transaction?
200
A decrease in owner’s equity resulting from the operation of a business
What is Expense?
200
An amount recorded on the left side of a T account
What is Debit?
200
Recording in a journal
What is Journalizing?
300
Inaccurate accounting records
What is the Cause of Business Failure and Bankruptcy?
300
A business that performs an activity for a fee
What is Service Business?
300
Assets taken out of a business for the owner’s personal use
What is Withdrawal?
300
An amount recorded on the right side of the T account
What is Credit?
300
A journal amount column headed with an account title
What is Special Amount Column?
400
Transfer of information between two or more individuals
What is Communication?
400
A business owned by one person
What is Proprietorship?
400
When all the changes occur on one side of the accounting equation, increases on that side must be matched by decrease on
What is Same Side?
400
A list of accounts used by a business
What is Chart of Accounts?
400
A journal amount column that is not headed with an account title
What is General Amount Column?
500
Competition and Pursuit of Success
What is the Foundation of the Free Enterprise System?
500
An equation showing the relationship among assets, liabilities, an owner’s equity
What is Accounting Equation?
500
Left side and the right side of the equation must be
What is Equal?
500
An account that reduces a related account on a financial statement
What is Contra Account?
500
Information for each transaction recorded in a journal
What is Entry?
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