Terms
More Terms
Even More Terms
Ooooh More Terms
And More Terms
100
Planning, recording, analyzing, and interpreting financial information.
What is accounting?
100
A business activity that changes assets, liabilities, and owners equity.
What is a transaction.
100
An amount recorded on the left side.
What is debit?
100
A form for recording transactions in chronoligical order.
What is a journal?
100
The recording of debit and credit parts of a transaction.
What is double-entry accounting?
200
Financial reports that summarize the financial condition and operations of a business.
What is financial statements
200
A planned process for providing financial information that will be useful to management.
What is an accounting system?
200
A list of accounts used by a business.
What is a chart of accounts?
200
A journal amount column headed with an account title
What is a special amount column?
200
A group of accounts.
What is a ledger?
300
Assets taken out of a business for the owner's personal use.
What is withdrawals?
300
An accounting device used to analyze transactions.
What is a T account?
300
Organized summaries of a business's financial activities.
What is accounting records?
300
The number assigned to an account.
What is an account number?
300
The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.
What is file maintenance?
400
Transferring information from a journal entry to a ledger account.
What is posting?
400
A bank account from which payments can be ordered by a depositor.
What is a checking account?
400
A report of deposits, withdrawals, and bank balances sent to a depositor by a bank.
What is a bank statement?
400
A business that performs an activity for a fee.
What is a service business?
400
A statement that guides the ethical behavior of a company and its employees.
What is code of conduct?
500
A check that a bank refuses to pay.
What is a dishonored check?
500
A columnar accounting form used to summarize the general ledger information needed to prepare financial statements.
What is a work sheet?
500
A signature or stamp on the back of a check transferring ownership.
What is an endorsement?
500
A financial statement showing the revenue and expenses for a fiscal period.
What is an income statement?
500
A business owned by one person.
What is a proprietorship?
M
e
n
u