Accounting Vocab and Important Information from Chap. 1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | A record summarizing all the information pertaining to a single item in the accounting equation.
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| show | A planned process for providing financial information that will be useful to management.
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| Accounting Records | show 🗑
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| show | Financial reports that summarize the financial condition and operations of a business.
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| show | A business that performs and activity for a fee.
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| Proprietorship | show 🗑
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| show | Anything of value that is owned.
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| Equities | show 🗑
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| show | An amount owed by a business.
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| show | The amount remaining after the value of all liabilities is subtracted from the value of all assets.
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| Accounting Equation | show 🗑
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| Ethics | show 🗑
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| Business Ethics | show 🗑
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| show | A business activity that changes assets, liabilities, and owner's equity.
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| show | A record summarizing all the information pertaining to a single item in the accounting equation.
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| Account Title | show 🗑
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| Acount Balance | show 🗑
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| show | The account used to summaraize the owner's equity in a business.
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| show | An increase in owner's equity resulting from the operation of a business.
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| show | A sale for which cash will be received at a later date.
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| Expense | show 🗑
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| Withdrawals | show 🗑
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| What is the Acounting Equation? | show 🗑
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| show | PRAI (Planning, Recording, Analyzing, and Interpreting)
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
gruba2007
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