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21 Cards in this Set
- Front
- Back
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Accounting
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-Planning, recording, analyzing, and interpreting financial information.
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Accounting System
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- a planned process for providing finanical information that will be useful to management.
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Accounting Records
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-organized summaries of a business's financial activities.
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Finacial Statements
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-financial reports that summarize the financial conditions and operations of a business.
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Service Buisiness
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-a business that performs an activity for a fee.
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Proprietorship
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-a business owned by one person.
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Asset
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-anything of value that is owned.
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Liabillity
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-an amount owned by a business.
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Owner's Equiti
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-the amount remaining after the value of all liabilities is subtracted from the value of all assets.
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Accounting Equation
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-an equation showing the relationship amoung assets, liabilities, and owner's eguity
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Ethics
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-the principles of right and wrong that guide an individual in making decisions.
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Buisiness Ethics
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-the use of ethics in making business decisions.
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Transaction
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Account
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Account Title
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Account Balance
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Capital
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Revinew
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Sale on Account
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Expense
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Withdrawals
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