Chapter 2 Vocabulary

5. A business activity that changes assets, liabilities, or owner's equity.
6. An amount recorded on the right side of a T account.
8. An increase in owner's equity resulting from the operation of a business.
10. The principles of right and wrong that guide an individual in making decisions.
12. The amount in an account.
14. Planning, recording, analyzing, and interpreting financial information.
15. The use of ethics in making business decisions.
16. An amount recorded on the left side of a T account.

1. A record summarizing all the information pertaining to a single item in the accounting equation.
2. Anything of value that is owned.
3. Assets taken out of a business for the owner's personal use.
4. A business owned by one person.
7. An accounting device used to analyze transactions.
9. The account used to summarize the owner's equity in a business.
10. A decrease in owner's equity resulting from the operation of a business.
11. The side of the account that is increased.
13. The name given to an account.