What is accounting information is processed by hand
100
credit
What is you buy property and agree to pay for it later
100
account
What is shows the balance for a specific item, such as cash or computer equipment
200
merchandising business
What is buys finished products and resells them to individuals or other business
200
partnership
What is a business owned by two or more persons
200
computerized accounting system
What is financial information is recorded by entering it into a computer
200
assets
What is property or items of value owned by a business
200
accounts payable
What is the amount of money owed, or payable, to the creditors of a business
300
manufacturing business
What is buys raw materials, such as wood or iron ore, and transforms them into finished products through the use of labor and capital
300
corporation
What is a business organization that is recognized by law to have a life of its own
300
GAAP
What is generally accepted accounting principles
300
equity
What is accouting term for the financial claims to the assets
300
accounts receivable
What is the total amount of money owed to a business
400
service business
What is includes travel agencies,styling salons,movers..etc
400
charter
What is gives a corporation certain rights and privileges.
400
Financial reports
What is summarized information about the financial status of a business
400
investments
What is assests, generally long-term in nature, not intended to be converted to cash or to be used in normal operations of the business in the next accounting period.
400
business transactions
What is an economic event that causes a change, either an increase or decrease
500
manufacturing business
What is range from a shipbuilder, like Atlantic Marine Shipyard of Mobile,Alabama, to the Pioneer Bakery in Venice,California
500
partnership
What is agree to operate the business as co-owners
500
accounting system
What is designed to collect, document, and report on financial transactions affecting the business
500
liabilities
What is the creditor's claims to the assets of the business.