Financial Claims
Business
More Business
Accounting
More Accounting
100
Assets
What is the property or items of value owned by a business are referred to as?
100
Sole propietorship
What is a business owned by one person?
100
Sole proprietorship, partnership, and corporation
What is the forms of business organizations?
100
The amount of money earned over and above the amount spent to keep the business operating.
What is a profit?
100
Withdrawal
What is the name for when you take money out of the account?
200
Investments
What is assets that are not intended to be converted to cash or to be used in normal operations?
200
Merchandising business
What is the business that buys finished products and resells them to individual or other businesses?
200
Bonuuuuuussss
What is the definition of economics?
200
Loss
What is it called when the businness spends more money than they earn?
200
Revenue
What is the income earned from the sales of goods and services?
300
Owner's equity
What is owners claim to the assets of the business?
300
Manufacturing businesss
What is the business that buys raw material?
300
Entreprenuers
What is job that transforms ideas for products or services into real world business?
300
reporting information to external users
What is the focus of financial accounting?
300
Expense
What is price paid for goods or services used to operate a business?
400
liabilities
What is creditor's claim to the assets of the business?
400
capital
What is the money supplied by investors, banks, or owners of a business?
400
free enterprise system
What is the system that people ar efree to prodice the goods and services they choose?
400
reporting information to managemant for internal users.
What is the focus of management accounting on?
400
on account
When a business buys an item on credit it is buying..
500
Assets = Liabilities + Owner's Equity
What is the accounting equation?
500
Service business
What is the business that provides a needed service for a fee?
500
The profit is how much you make and the loss is how much you lose.
What is difference between profit and loss?
500
Going concern
What is the word when a business is expected to continue?
500
property rights.
Dollar amounts measure both the cost of the property and the..
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