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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 are called.
A business that performed an activity for a fee.
A buisness owned by one person.
Anything of value that is owned.
Financial rights to an asset of a buisness.
An amount owed by a buisness.
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 dicisions.
The use of ethics in making buisness decisions.
A business activity that changes assets, liabilities, or owner's equity.
A recording summarizing all the information pertained in to a single item in the accounting equations.
The name given to an account.
The amount in an account.
The amount 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.