Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
13 Cards in this Set
- Front
- Back
|
equities
|
financial rights to the assets of a business
|
|
|
ethics
|
the principle of right and wrong that guide individuals in making decisions
|
|
|
Accounting equation
|
an equation that shows the relation ship among assets, liabiliities, and owners equity
|
|
|
Asset
|
anything of value that is owned
|
|
|
Account records
|
organized summaries of a businesses financial activities
|
|
|
proprietorship
|
business owned by one person
|
|
|
liabilities
|
amount owed by a business
|
|
|
financial statement
|
financial reports that summarize the financal conditions and operations of a business
|
|
|
Accounting system
|
a planned process for providing financial information that will be useful to management
|
|
|
Accounting
|
planning, recording, analyzing, and interpreting financial information
|
|
|
owners equity
|
the amount remaining after the value of all liabilities is sutracted from the valuesof all assets
|
|
|
business ethics
|
the use of ethics when making business decisions
|
|
|
service business
|
a business that performs an activity for a fee
|
