Accounting terms

A business that is owned by one person.

• proprietorship

• business plan

• sole business

• equity

Ensures that all companies follow the same set of guidelines and practices

• rules

• GAAP

• business plan

• equity

Which are examples of assest?

• inventory, work vehicle, cash

• paper, hair, trash

• a rock outside

• trash, penny from the ground

Mark wants the business to sell at least 4 items a week and meet quota every month.

What is this an example of?

• account balance

• equity

• business plan

• GAAP

The name given to an account

• name

• account

• business plan

• account title

an account does not keep record of transactions

• True

• False

Anything that is sold or has made money for the business

• Transaction

• equity

• GAAP

• Account

financial rights of a assets of a business

• Proprietorship

• Equities

• creditor

• GAAP

A company that provides its customers with skilled services

• service business

• GAAP

• transaction

• owners equity

Another name for revenue is ________

• Account balance

• income

• equity

• assets