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Transactions
Ownership
Accounting System
Forms and Types
Expolring Business
100
Account
What SHOWS the balance for a specific item, such as cash or computer equipment?
100
Property
What is anything of value that is owned or controlled?
100
Manual Accounting
______ __________ System processes acounting infromation by hand?
100
Service
What kind of business provides a needed service for a fee
100
Howard Schultz
Who joined STARBUCKS COFFEE in 1982 and changed its business for ever?
200
Accounts Recivable
What is the total amount of money owed to a business?
200
Property Rights or Finacial Claims
What is it when Creditors' and owners' finacial claims to the assets of a business?
200
" Generally accepted accounting principles "
What does GAAP stand for?
200
Manufacturing
What is a business that buys raw materials and makes the finished product then sells it to individuals or other businesses.
200
Profit is the amount of money earned over and above the amount spent to keep the business operating.
What is Profit?
300
On Account
When a business buys an item on credit?
300
Credit
What is Credit?
300
Financial Reports
What do you call it when you have summarized information about the finacial status of a business?
300
Merchandice
What is a business that buys finished products and resales them like Walmart.
300
By spending more money than they earn.
How do businesses operate at loss?
400
accounts payable
What is the amount of money owed , or payable , to the creditors of a business?
400
Ceditor
What is a personor business you owe money too?
400
The financial infromation is entered and saved into a computer?
What is a computerized accounting system is?
400
Capital
What is money supplied by investors, banks, or owners of a business.
400
Free enterprise system
What is a business where people are free to produce the goods and service they choose.
500
Business Transactions
What is an economic event that causes a change- either anincrease or a decrease - in assets,liabilities ,or owner's equity?
500
Free enterprice
What is the right to own property is basic to a ____ __________ system?
500
To collect, document, and report on financial transactions affecting the business.
What is an Accounting system for?
500
Sole
What word finishes this sentence ? a ____ Prorietorship is a business owned by one person.
500
People who transform ideas for products or services into real-world businesses.
Entreprenuers are?