Accounting I-Chapters 1-4

Assets taken out of a business for the owner's personal use

• capital
• withdrawals
• equities
• revenue

Planning, recording, analyzing, and interpreting financial information

• accounting
• ethics
• transaction
• revenue

A decrease in owner's equity resulting from the operation of a business

• account
• capital
• asset
• expense

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

• accounting system
• ethics
• transaction
• capital

The principals of right or wrong that guide an individual in making decisions

• equities
• ethics
• withdrawals
• liability

Amount owed by a business

• liability
• asset
• capital
• account

Financial rights to the assets of a business

• ethics
• withdrawals
• accounting records
• equities

A business activity that changes assets, liabilities, or owner's equity

• transaction
• expense
• revenue
• sale on account

Anything of value that is owned

• account
• asset
• withdrawal
• expense

The name given to an account

• account title
• capital
• expense
• revenue