Accounting 1 Vocabulary

2. A business from which merchandise, supplies, or other assets are purchased.
5. A business from giving written acknowledgment for cash received.
6. A form describing the goods or services sold, the quantity, the price, and the terms of sales.
7. Is the process of planning, recording, analyzing, and interpreting financial information.
12. Account A bank account from which payments can be ordered by a depositor.
14. Is a business owned by one person.
15. Plan Is a formal written document that describes the nature of a business and how it will operate.
17. Information for each transaction recorded in the journal.

1. Anything of value that is owned.
3. An increase in equity resulting from the sale of goods or services.
4. A person or business to whom a liability is owned.
8. A business form ordering a bank to pay cash from a bank account.
9. Accountants call any business activity that changes assets, liabilities, or owner's equity.
10. An amount owned.
11. The owner of one or more shares of stock.
13. The assets or other financial resources available to a business.
16. Document A business paper from which information is obtained for a journal entry.