Accounting Laws
What does the acronym GAAP stand for
What is the General Accepting Accounting Principal?
What is a debit
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The process of planning , recording , analyzing , and interpreting financial information?
What is Accounting ?
What side does the assets go under in the accounting equations ?
What is the Left Side
The system used to record, summarize, analyze, and categorize the financial transactions of an individual or a business.
What is the Accounting Law
An accounting device used to analyze transactions is called a
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What is a Simp
What is a planned process designed to compile financial data and summarize the results in accounting records and reports
What is Accounting System ?
It shows the relationship among assets , liabilities and owner's equity and is most often stated as
What is the Accounting Equation?
An accountant who has passed the uniform certified public accounting exam and met the licensing requirement for a state
What is a CPA ( Certified Public Accountant )
An amount recorded on the right side of an account is called?
What is a credit ?
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What is 9
An amount owed is called a
What is Liability
What side does the Liabilities and Owner's equity go under in the Accounting Equation ?
What is the right side ?
Financial reports that summarize the financial condition and operations of a business
what is Financial Statement ?
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The difference between assets and labilities
What is Equity?
The amount remaining after the value of all liabilities is subtracted from the value of all assets.
What is Owner's Equity
A fiscal period consisting of 12 consecutive months
What is Fiscal Year
Amounts to be paid in the future for goods or services already acquired are called
What is Accounts Payable
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The use of ethics in making business decisions is called
What is Business Ethics
What is the accounting equation
What is Assets = Liabilities + Owner's Equity