This is an all purpose journal used for recording business transactions.
what is general journal
100
Money that investors, banks, or business owners supply for a business to begin is called what?
What is capital
100
What are financial reports?
Documents that present summarized information about the financial status of a business
100
The asset, liability, and owner's equity accounts are extended to the ____ of the worksheet.
What is balance sheet section
100
How many times has Mrs.Eyre been pregnant in our four years of high school?
What is Too many to keep track of
200
Is often called a book of original entry.
what is Journal
200
What is the difference between sole proprietorship and a partnership?
What is Sole- a business owned by one person.
Partnership- a business owned by two or more persons
200
What are the two types of accounting systems?
Manual accounting system and computerized accounting system
200
what is drawling a line under a column of accounts
What is ruling
200
What kind of car does Dina drive?
What is the magic mini van
300
The various activities a buiness completes to organize it's accounting records in an orderly fashion is called?
What is accounting cycle
300
What does GAAP stand for?
What is Generally accepted accounting principals
300
The type of accounting that focuses on reporting information to management; often referred to as accounting for internal users of accounting information
Management Accounting
300
If there is a net loss for the period, it is entered in the ____ column in the balance sheet section of the worksheet
What is debit
300
What is the name of Ahmed's newest car?
What is monte carlo
400
If you were to write $190 as either $19 or $1,900, this mistake would be called a(n)?
What is slide
400
What are two advantages of forming a business as a sole proprietorship?
-Easy to set up
-All profits go to owner
-Owner has total control
-Few regulations to follow
400
Allows a business to match revenue against expenses as a means of measuring profit for the period
What is matching principal
400
A net loss is entered in the ___ column of the income statement section of the worksheet
What is credit
400
Alma has changed her job three times in the last three months, where has she worked?
What is Deb, New York & Co, Rue21
500
any type of business paper that verifies that a transaction occurred is called what?
What is source document
500
Why might an owner worry about personal liability when starting a business?
There are a lot of risks to start a business
500
Revenue and expense accounts are listed in the trial balanced section of the worksheet and in the _____ of the worksheet.
What is income statement section
500
What is the difference between financial accounting and financial reports?
Financial accounting focuses on reporting information to external users, while financial reports are summarized information about the financial status of a business.
500
How tall is Amir?
What is Tall enough to ride the big kid rides at six flags. (6'4)