| A | B |
|---|
| Account | A record summarizing all the information pertaining to a single item in the accounting equation. |
| Account Balance | The amount in an account |
| Account Title | The name given to an account. |
| Accounting | Planning, recording, analyzing and interpreting financial information. |
| Account Equation | An equation showing the relationship among assets, liabilities, and OE |
| Accounting Records | ORganized summaries of a business' activities |
| Asset | Something of value that is owned. |
| Liability | Something that you owe. |
| Expense | A decrease in OE resulting from the operation of a business. |
| Ethics | The principles of right and wrong that guide an individual in making decisions. |
| Financial Statements | Financial reports that summarize the financial conditions and operations of a business. |
| Transaction | Any business activity that changes the accounting equation. |
| Proprietorship | A business owned by 1 person. |
| Equities | Financial rights to the assets of a business. |
| Capital | The account used to summarize the OE in the business. |
