Vocabulary Quiz 1-8
Across
- 2. Decrease in owners equity resulting from the operation of a business.
- 3. Business owned by one person.
- 4. Increase in sales, resulting from the operation of a business.
- 6. Financial rights to the assets of a business.
- 8. System Planned process for financial information that will be useful to management.
- 9. An account used to summarize the owner's equity in the business.
- 12. Form on which a brief message is written describing a transaction.
- 14. Accounting device used to analyze transactions.
- 16. Transferring from journal entry to a ledger account
- 17. Business from ordering a bank to pay cash from a bank account
- 20. Shows relationship among assets, liabilities, and owners equity.
- 23. Recording of debit and credit parts of a transaction.
- 25. Sheet A financial statement that reports assets,liabilities and owner's equity on a specific date.
- 27. Number assigned to an account
- 28. Determining that the amount of cash agrees with the accounting records.
- 29. Amount recorded on the left side of the T account.
Down
- 1. Amount remaining, after the value of all liabilities is subtracted from the value of all assets.
- 5. Principles of the right and wrong that guide an individual in making decisions.
- 7. A Business selling accounting services to the general public.
- 10. Group of financial accounts.
- 11. Recording transactions in a journal
- 13. Form for recording transactions in chronological order.
- 15. Amount recorded on the Right side of the T account.
- 18. List of accounts used by a business.
- 19. Length of time a business summarizes and reports financial information.
- 21. Planning Recording and analyzing financial information.
- 22. Assets taken out of a business for the owners personal use.
- 24. Business activity that changes assets, liabilities, or owners equity.
- 26. An amount owed by a business.