| A | B |
|---|
| activities that you perform well are _______ | skills |
| concepts or ideas held important or worthwhile are ________ | values |
| __________ is the way you use your time, energy, and resources. | lifestyle |
| _________ is a set of unique qualities that makes us different from all other people. | personality |
| Tests that uncover personal preferences you can use to research potential careers and determine which ones match your particular interests are ________. | personal interest tests |
| ________ is making contacts with people to share information and advice. | networking |
| A person who handles a broad range of jobs related to the making of choices and decisions about the design of a business's accounting system and the preparation and explanation of financial reports are called an ________. | accountant |
| A __________ is a business that operates to earn money for its owners. | for-profit business |
| A __________ is an organization that does not operate for the purpose of making a profit. | not-for-profit organization |
| An entry-level job that can vary with the size of the company from specialization in one part of the system to a wide range or recordkeeping tasks is an ________. | accounting clerk |
| A ___________ is a public accountant who has passed the licensing exam on accounting theory, practice, auditing, and business law. Also called a CPA. | certified public accountant |
| __________ is accounting services that range from tax preparation to merger and acquisition consultation; a variety of accounting services offered to businesses. | public accounting |
| A system in which people are free to produce the goos and services they choose is known as a ___________. | free enterprise system |
| The amount of revenue earned above the expenses incurred to operate the business is called __________. | profit |
| A __________ results when a company's spending more than it receives in revenue. | loss |
| A(n) ____________ is a person who transforms ideas for products or services into real-world businesses. | entrepreneur |
| Money supplied by investors, banks, or owners of a business is called _______. It also refers to the dollar value of assets contributed to the business. | capital |
| A _________ provides a needed service for a fee to it's customers. | service business |
| __________ is a business that buys goods and then sells those goods to customers for a profit. | merchandising business |
| A(n) ___________ is a business owned by one person. | sole proprietorship |
| A business owned by two or more persons who agree to operate the business as co-owners is known as a ___________. | partnership |
| A _________ is a business organization that is recognized by law to have a life of its own. | corporation |
| A legal written permission that gives a corporation certain rights ans privileges and spells out the rules under which the corporation si to operate is called a _________. | charter |
| A(n) _____________ is a systematic process of recording and reporting hte financial information resulting from business transactions. | accounting system |
| A system in which accounting information is recorded and processed by hand is known as a(n) ____________. | manual accounting system |
| A system in which financial information is recorded by entering it into a computer is a(n) ____________. | computerized accounting system |
| A set of rules used by accountants to prepare financial reports is _________. (Abbreviation) | GAAP |
| Summarized information about the financial status of a business are _________. | financial reports |
| ___________ is reporting information to external users (individuals not directly involved in the day-to-day operations of the business). | financial accounting |
| __________ is reporting information to management, often referred to as accounting for internal users of accounting information. | management accounting |
| A __________ exists independently of its owner's personal holdings. The accounting records and reports are maintained separately and contain financial information related only to the business. | business entity |
| A period of time covered by an accounting report is referred to as a(n) __________. | accounting period |
| A ___________ is the assumption that a business entity will continue to operate for an indefinite time. | going concern |
