Accounting Chapter 1

Accounting Chapter 1

Assessment

Flashcard

Business

12th Grade

Practice Problem

Easy

Created by

Celso Collins

Used 1+ times

FREE Resource

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11 questions

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1.

FLASHCARD QUESTION

Front

Accounting

Back

planning, recording, analyzing and interpreting financial information

2.

FLASHCARD QUESTION

Front

Accounting System

Back

A planned process for providing financial information that will be used to management

3.

FLASHCARD QUESTION

Front

Equity

Back

The difference between assets and liabilites

4.

FLASHCARD QUESTION

Front

Financial Statements

Back

Financial reports that summarize the financial condition and operations of a business

5.

FLASHCARD QUESTION

Front

Service Business

Back

A business that preforms an activity for a fee

6.

FLASHCARD QUESTION

Front

Proprietorship

Back

A business owned by one person

7.

FLASHCARD QUESTION

Front

Asset

Back

Anything of value that is owned

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