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Ch. 1
Ch. 2
Ch. 3
Ch. 4
Ch. 5
100
Planning, recording, analyzing, and interpreting financial information
What is accounting?
100
Financial rights to the assets of a business
What are equities?
100
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 chronological order
What is a journal?
200
Organized summaries of a business’ financial activities
What are accounting records?
200
Amount owed by a business
What is 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 debit?
200
A journal amount column headed with an account title
What is a special amount column?
300
A person who plans, summarizes, analyzes, and interprets accounting information
What is an accountant?
300
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 are withdrawals?
300
An amount recorded on the right side of a T account
What is credit?
300
A journal amount column that is not headed with an account title
What is a general amount column?
400
Accountant who is employed by a single business
What is a private accountant?
400
Equation showing the relationship among assets, liabilities, and owner’s equity
What is the accounting equation?
400
For a business to succeed, revenues must be greater that these
What are expenses?
400
A list of accounts used by a business
What is a chart of accounts?
400
Information for each transaction recorded in a journal
What is an entry?
500
Use of personal ethics in making business decisions
What are business ethics?
500
Business activity that changes assets, liabilities, or owner’s equity
What is a transaction?
500
A revenue transaction will do this to owner’s equity
What is increase?
500
An account that reduces a related account on a financial statement
What is a contra account?
500
A business paper from which information is obtained for a journal entry
What is a source document?