Vocabulary Quiz 1-8

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