planning, recording, analyzing, and interpreting financial information
a planned process for providing financial information that will be useful to management
organized summaries of a business's financial activities
financial reports that summarize the financial condition and operations of a business
a business that performs an activity for a fee
a business owned by one person
anything of value that is owned
financial rights to the assets of a business
an amount owed by a business
the amount remaining after the value of all liabilities is subtracted from the value of all assets
an equation showing the relationship among assets, liabilities, and owner's equity
the principles of right and wrong that guide an individual in making decisions
the use of ethics in making business decisions
a business activity that changes assets, liabilities, or owner's equity
a record summarizing all the information pertaining to a single item in the accounting equation
the name given to an account
the amount in an account
the account used to summarize the owner's equity in a business
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
a decrease in owner's equity resulting from the operation of a business
assets taken out of a business for the owner's personal use
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