Show:
Ch.1
Ch.2
Ch.3
100
A person who plans, summarizes, analyzes, and interprets accounting information is called
What is an accountant
100
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
200
A business selling accounting services to the general public
What is Public accounting firm
200
Business owned by one person
What is proprietorship
200
A decrease in owner’s equity resulting from the operation of a business
What is expense
300
Accountant who is employed by a single business
What is Private accountant
300
Financial assets of a business
What is equities
300
Assets taken out of a business for the owner’s personal use
What is withdrawals
400
Person who does general accounting work plus some summarizing and analyzing of accounting info
What is bookkeeper
400
An equations showing the relationship among assets, liabilities, and owner’s equity
What is Accounting equation
400
How many sides does the accounting equation have
What is two
500
Person who records, sorts, and files accounting info
What is Accounting clerk
500
The account used to summarize the owner’s equity in business
What is capital
500
What are the new balances of an accounting equation used to create?
What is Balance sheet