Accounting Basics

Flashcard
•
Other
•
9th - 12th Grade
•
Hard
Wayground Content
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17 questions
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1.
FLASHCARD QUESTION
Front
Planning, recording, analyzing, and interpreting financial information
Back
Accounting
2.
FLASHCARD QUESTION
Front
Anything of value that is owned
Back
Asset
3.
FLASHCARD QUESTION
Front
An amount owed by a business
Back
Liability
4.
FLASHCARD QUESTION
Front
The amount remaining after the value of all liabilities is subtracted from the value of all assets.
Back
Owner's Equity
5.
FLASHCARD QUESTION
Front
An accounting device used to analyze transactions
Back
T-Account
6.
FLASHCARD QUESTION
Front
An amount recorded on the left side
Back
Debit
7.
FLASHCARD QUESTION
Front
An amount recorded on the right side
Back
Credit
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