
Accounting 1: 3.01 Vocab
Authored by Regina Leach Smith
Business
9th - 12th Grade
Used 8+ times

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19 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A list of accounts used by a business
T-accounts
Expenses
Assets
Chart of accounts
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The planning, recording, analyzing, and interpreting of financial information
Accounting
Accounting Equation
Chart of accounts
Analyzing transactions
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
An amount owed by a business
Owner's equity
Asset
Liability
Expense
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Anything of value that is owned
Owner's equity
Asset
Liability
Revenue
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The side of the account that is increased
Debit
Credit
Normal balance
Account
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The amount remaining after the value of all liabilities is subtracted from the value of all assets
Owner's equity
Asset
Liability
Profit
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
An amount recorded on the right side of a T-account
Debit
Credit
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