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Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
Planning, recording, analyzing, and interpreting financial information.
What is accounting?
100
A business that performs an activity for a fee.
What is service business?
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 of recording transactions in choronological order.
What is a journal?
200
A planned process for providing financial information that will be useful to management.
What is accounting system?
200
A business owned by one person.
What is a proprietorship?
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
Recording transactions in a journal.
What is journalizing?
300
Organized summaries of a business' financial activities.
What is accounting records
300
Anything of value that is owned.
What is an asset?
300
Assets taken out of a business for the owner's personal use.
What is withdrawals?
300
An amount recorded on the right side of a T account.
What is credit?
300
A journal amount column headed with an account title.
What is special amount column?
400
A person who plans, summarizes, analyzes, and interprets accounting information.
What is an accountant?
400
Financial rights to the assets of a business.
What is equities?
400
Taking money from an account.
What is withdrawal?
400
An account that reduces a related account on a financial statement.
What is contra account?
400
A journal amount column that is not headed with an account title.
What is general amount column?
500
A person who does general accounting work plus some summarizing and analyzing of accounting information.
What is a bookkeeper?
500
An amount owed by a business.
What is a liability?
500
A decrease in assets and owner's equity.
What is paying cash to owner for personal use?
500
A list of accounts used by a business.
What is chart of accounts?
500
A business form giving written acknowledgement for cash received.
What is a receipt?