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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
An amount owed by a business
What is a liability?
100
An increase in owners equity resultingin an increase in owners equity
What is revenue?
100
Used to analyze transactions
What is a T account?
100
Recording transactions
What is Journalizing?
200
Organized summaries of a business' financial activity
What is an accounting record?
200
Value of all liabilities is subtracted from the value of all assets
What is owners equity?
200
Adecrease in ownersw equity resulting from the operation of a business
What is an expense?
200
An amount recorded on the left side
What is Debit?
200
Ordering a bank to pay cash
What is Check?
300
A person that organizes accounting information
What is an accountant?
300
An equation showing relationship between assets, liabilities, and owners equity
What is an Accounting equation?
300
Assets taken out of an account
What is a withdrawal?
300
Recorded on right side
What is Credit?
300
Written Acknowledgement for cash
What is a reciept?
400
A business selling accounting services
What is a public accounting firm?
400
A business activity that changes assets, liabilities, or owners equity
What is a transaction?
400
A record summarizing all transactions
What is an account?
400
an account that reduces a related account on a financial statement
What is Contra account?
400
A form a brief message is written on
What is a memorandum?
500
An accountant who is employed by a single business
What is a private accountant?
500
Anything of value
What is an Asset?
500
Reports of an account balance
What is a Balance sheet
500
Transactions in order
What is a journal?
500
increase in equity
What is Revenue?