Amount of money that is need to needed to pay or buy something
What is Expense?
100
Accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors.
What is Accounts Payable
100
What is the concept that requires that the success or failure of the business be determined at regular intervals?
What is Periodicity concept?
100
Term describes work and supports a business
What is Service business?
100
Part of the business function where you decide how, where, delivery, and cost of the product.
What is Marketing Function
200
Money that is made by or paid to a business or an organization
What is Revenue?
200
Money owed by customers (individuals or corporations) to another entity in exchange for goods or services that have been delivered or used, but not yet paid for.
What is Accounts Receivable?
200
What is the concept that asserts money is the common measurement unit of economic activity?
What is Monetary Unit?
200
Manufactured goods that are bought and sold in any business
What is Merchandiser?
200
Business Function where you decide whether making, directing, planning, evaluating to find its efficiency.
What is Production Function?
300
items of ownership convertible into cash
What is Assets?
300
A business owned by one person.
What is Sole Proprietorship?
300
What is the concept that assumes that, absent any information to the contrary, the business entity will continue into the foreseeable future?
What is Going Concern?
300
A person, group, or a company that owns or runs a manufacturing plant.
What is Manufacturer?
300
Business Function where its all about money and you make or try to increase the capitol.
What is Finance Function
400
Company' legal debt or obligation that arises during the course of business operations
What is Liability?
400
A business owned by two or more people
What is Partnership?
400
What is the concept that requires an accounting system to reflect only information about economic events that pertain to a particular entity?
What is Business Entity?
400
Examine accounting record and determines if the accounting record followed GAAP then they issues an opinion
What is Auditor's Report
400
Business function where you find employees for your company.
What is Human Resource Function?
500
Represents the claims on the business to transfer the residual interest (net assets of the business) to the owners.
What is Owner's equity?
500
A business owned by many owners(Most large companies are ____)
What is Corporation?
500
collection of commonly-followed accounting rules and standards for finance reporting.
What is GAAP?
500
Provide information to help people in and out of business.