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Ch 1
Ch 2
Ch 3
Ch 4
Ch 5
100
A planned process for providing financial information that will be useful to management
What is an accounting system
100
Financial rights to the assets of a business
What is equities
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 a T account
100
A form for recording transactions in chronoloigcal order
What is a journal
200
A business selling accounting services to the general public
What is a public accounting firm
200
An amount owed by a business
What is a liability
200
A decrease in owner's equity resulting from the operation of a business
What is an expense
200
An amount recorded on the left side of a t account
What is a debit
200
Recording transactions in a journal
What is journalizing
300
The principles of right and wrong that guide an individual in making decisions
What is ethics
300
The amount remaining after the value of all liabilities is subtracted from the value of all assets
What is owner's equity
300
Assets taken out of a business for the owner's personal use
What is a withdrawl
300
An amount recorded on the right side of a T account
What is a credit
300
A journal amount column headed with an account title
What is a special amount column
400
An accountant who is employed by a single business
What is a private accountant
400
Assets=Liabilities+Owner's Equity
What is the accounting equation
400
When do most business' prepare a balance sheet?
What is on the last day of each month
400
An account the reduces a related account on a financial statement
What is a contra account
400
A business paper from which information is obtained for a journal entry
What is a source document
500
A person who does general kinds of office tasks, including some accounting tasks
What is a general office clerk
500
A business activity that changes assets , liabilities, or owner's equity
What is a transaction
500
A withdrawl does this to owner's equity
What is decrease
500
A list of accounts by a business
What is a chart of accounts
500
A form on which a brief message is written describing a transaction
What is a memorandum