Accounting Chapter 1
Flashcard
•
Business
•
12th Grade
•
Easy
Celso Collins
Used 1+ times
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11 questions
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1.
FLASHCARD QUESTION
Front
Accounting
Back
planning, recording, analyzing and interpreting financial information
2.
FLASHCARD QUESTION
Front
Accounting System
Back
A planned process for providing financial information that will be used to management
3.
FLASHCARD QUESTION
Front
Equity
Back
The difference between assets and liabilites
4.
FLASHCARD QUESTION
Front
Financial Statements
Back
Financial reports that summarize the financial condition and operations of a business
5.
FLASHCARD QUESTION
Front
Service Business
Back
A business that preforms an activity for a fee
6.
FLASHCARD QUESTION
Front
Proprietorship
Back
A business owned by one person
7.
FLASHCARD QUESTION
Front
Asset
Back
Anything of value that is owned
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