Chapter 1

2. Increases and decreases in the account and the differences between them
3. Process to summarize the results in accounting
5. Owed amount
6. Cost of things used to run a business
13. Making business decisions using ethics
15. Personal assets and personal liabilities differences
19. Number remaining after the value of liability’s are removed from the value of assets
20. Accounting standards rules and principles accountants follow when reporting and recording financial activities
22. Report that shows what a person owes and owns and the difference
24. An equation showing assets liabilitys and owners equity and the relationships between them
25. When liability is owed to a person or business
26. One person owning a business
27. Account used to sum up the equity of a business

1. Performing an activity for a fee
4. A sale that will be received later
7. Anything regarding business that changes liability’s assets and owners equity
8. Record that shows all transactions to a single item in the accounting equation
9. Account name
10. Document that shows how to operate a business and the nature of it
11. Reports summarizing financial operations and conditions of a business
12. For a business owners personal use taken by the assets of the business
14. Assets and liabilities differences
16. Rights to business assets
17. Increase in equity from sales
18. Anything owned that is of value
21. Principals that guide decisions made by knowing right from wrong
23. Recording financial transactions and information