
Accounting C1-Study Guide
Flashcard
•
Business
•
10th Grade
•
Hard
Kerry Thompson
FREE Resource
Student preview

27 questions
Show all answers
1.
FLASHCARD QUESTION
Front
The process of planning, recording, analyzing, and interpreting financial information (6)
Back
Accounting
2.
FLASHCARD QUESTION
Front
A planned process designed to compile financial data and summarize the results in accounting records and reports (6)
Back
Accounting system
3.
FLASHCARD QUESTION
Front
Financial reports that summarize the financial condition and operations of a business (6)
Back
Financial statements
4.
FLASHCARD QUESTION
Front
A formal report that shows what an individual owns, what an individual owes, and the difference between the two (7)
Back
Net Worth Statement
5.
FLASHCARD QUESTION
Front
Anything of value that is owned (7)
Back
Asset
6.
FLASHCARD QUESTION
Front
An amount owed (7)
Back
Liability
7.
FLASHCARD QUESTION
Front
The difference between personal assets and personal liabilities (7)
Back
Personal new worth
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