Accounting 1 Vocabulary

2. Plan Is a formal written document that describes the nature of a business and how it will operate.
5. Document A business paper from which information is obtained for a journal entry.
7. A business form ordering a bank to pay cash from a bank account.
8. A person or business to whom a liability is owned.
11. A business from giving written acknowledgment for cash received.
13. A business from which merchandise, supplies, or other assets are purchased.
14. Is the process of planning, recording, analyzing, and interpreting financial information.
15. Is a business owned by one person.
16. Information for each transaction recorded in the journal.

1. Anything of value that is owned.
3. The owner of one or more shares of stock.
4. An increase in equity resulting from the sale of goods or services.
6. Account A bank account from which payments can be ordered by a depositor.
7. The assets or other financial resources available to a business.
9. A form describing the goods or services sold, the quantity, the price, and the terms of sales.
10. Accountants call any business activity that changes assets, liabilities, or owner's equity.
12. An amount owned.