Chapter one

2. Certified professional who specializes in budgeting, planning for retirement, and managing finances.
3. A business organized under state law that is a separate legal entity.
15. Any person or business to whom a business owes money.
16. The private organization that oversees the creation and governance of International Financial Reporting Standards (IFRS).
17. The information system that measures business activities, processes the information into reports, and communicates the results to decision makers.
18. Represents the price that would be received if the asset was sold.
19. Proprietorship A business with a single owner.
20. A business with two or more owners and not organized as a corporation.

1. U.S. governmental agency that oversees the U.S. financial markets.
4. A company in which each member is only liable for his or her own actions.
5. Accounting guidelines, currently formulated by the Financial Accounting Standards Board (FASB); the main U.S. accounting rule book.
6. A set of global accounting guidelines, formulated by the International Accounting Standards Board (IASB).
7. Professional accountants who specialize in accounting and financial management knowledge.
8. Professional accountant with advanced knowledge in finance, operations, strategy, and management.
9. Providing information that is complete, neutral, and free from error.
10. Licensed professional accountants who serve the general public.
11. The private organization that oversees the creation and governance of accounting standards in the United States.
12. The field of accounting that focuses on providing information for internal decision makers
13. A person who owns stock in a corporation.
14. The field of accounting that focuses on providing information for external decision makers.