
Acctg Ch 1 Vocab
Flashcard
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Other
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9th - 12th Grade
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Practice Problem
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Hard
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47 questions
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1.
FLASHCARD QUESTION
Front
Standards accountants follow for financial reporting
Back
GAAP
2.
FLASHCARD QUESTION
Front
Financial reports summarizing a business's financial condition and operations.
Back
financial statements
3.
FLASHCARD QUESTION
Front
Formal report showing assets, liabilities, and their difference.
Back
net worth statement
4.
FLASHCARD QUESTION
Front
Process to compile financial data and summarize results in records and reports.
Back
accounting system
5.
FLASHCARD QUESTION
Front
Planning, recording, analyzing, and interpreting financial info.
Back
accounting
6.
FLASHCARD QUESTION
Front
Anything of value that is owned.
Back
Asset
7.
FLASHCARD QUESTION
Front
Ethics in business decisions.
Back
Business Ethics
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