Chapter 2
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Created by:
mfiler on September 3, 2009
Subjects:
Classes:
Buckeye Business Academy - East Holmes Satellite, Accounting I
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4 terms
Terms | Definitions |
|---|---|
 expense | A decrease in owner's equity resulting from the operation of a business. |
| revenue | An increase in owner's equity resulting from the operation of a business. |
| sale on account | A sale for which cash will be received at a later date. |
| withdrawals | Assets taken out of a business for the owner's personal use. |
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