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22 Cards in this Set
- Front
- Back
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account
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a recorded summerizing all the imformation pertaning to a single item in the accounting equation
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account balance
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the amount in an account
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account title
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the nam given to an account
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accounting
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planing, reporting, analyzing inportinat im
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accounting equation
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a equation shown the relation among ansets liability and owners equility
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accounting records
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organized summeries of a business finacal activities
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account system
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a planned process for providing finacial imformation that will be useful to management.
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asset
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any thing of value that is owned
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buisness ethics
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the use of ethics in making busisness
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equities
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finacial rights to the assets of a buisness
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capital
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the account used to summeriz the owners equity in a buisness
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ethics
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the priciples of right and wront thtat guid an inuividual in making descisions
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exspence
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a decrease in owners equity resoulting from the operation in a buisness.
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finacial statement
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finacal reports that summerize the finacial operation of a buisness
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liability
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an amount owed by a buisness
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owners equity
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the amont remaning after the value of all liabilities is sub. from the value of all assets
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proprietorship
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a buisness owned by one person
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revenu
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a increase in owners equity resoultin from the operation of a buisness
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sale on account
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a sale for which cash will be recived at a leter day
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service buisness
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a buisness that performs a activity for a fee
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transaction
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a buisness activity that changes assets, liability
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withdrawals
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assets taking out of a buisness for the owners personal use.
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