Accounting

2. Generally Accepted Accounting Principles
5. information system that provides reports to users about the economic activities of a business
8. organization in which inputs provide outputs to customers
10. when revenue exceed expenses
11. ________ public accountants who have met a state's education, experience and exam requirements
13. items used in the business in the future are _____ expenses
15. how the income statement reports the revenues and expenses for a period of time is based on the ______ concept
16. ______ sheet is a list of the assets, liabilities and owner's equity
17. resources owned by a business
18. the side of the balance sheet that assets are recorded on
19. claim against a customer is called an account ________
21. securities exchange commission
25. rights of creditors
26. money earned by selling goods to customers

1. financial accounting standards board
3. the objective of most businesses
4. ______ accounting provides internal users with information
6. ______ concept where amounts are recorded in accounting records at purchase price
7. ________ concept requires amounts are recorded based on objective evidence
9. the manner in which accountants must behave so they provide users with trustworthy information
12. international accounting standards board
13. ______ accountants are employed by a business
14. The objective of accounting is to provide relevant, timely information for user ______ making.
18. when expenses exceed revenue
20. Assets=Liabilities + Owner's Equity is called the _____ equation
22. _____ accountants provide services on a fee basis
23. the liability created by a purchase on account is called an account _______
24. ______ accounting provides external users with information
27. used in the process of earning revenue