| A | B |
|---|
| ACCOUNT | THE INCREASES OR DECREASE IN A SPECIFIC ITEM CAUSED BY BUSINESS TRANSACIONS ARE RECORDED IN A ____ |
| BASIC ACCOUNTING EQUATION | THE __ IS ASSET=LIABILITES+OWNER'S EQUITY |
| BUSINESS TRANSACTION | THE OWNER'S CLAIMS TO THE TOTAL ASSET OF THE BUSINESS ARE CALLED? |
| BALANCE SIDE | THE ____ OF AN ACCOUNT IS THE SAME SIDE USED TO INCREASE THE ACCOUNT |
| CREDIT | THE ___ SIDE IS THE RIGHT SIDE OF THE T ACCOUNT |
| DEBIT | THE LEFT SIDE OF THE T ACCOUNT IS THE ____. |
| DOUBLE ENTRY ACCOUNTING | ___ IS THE FINANCIAL RECORDKEEPING SYSTEM IN WHICH EAC BUSINESS TRANSACTION AFFECTS AT LEAST TWO ACCOUNTS. |
| LIABILITIES | ___ ARE THE CREDITORS' CLAIMS TO THE ASSETS OF THE BUSINESS. |
| EXPENSES | THE COSTS OF GOODS AND SERVICES USED TO OPERATE A BUSINESS ARE ____. |
| EQUITY | THE TOTAL FINANCIAL CLAIMS TO THE ASSETS OF A BUSINESS ARE KNOWN AS ____. |
| CREDITOR | A PERSON OR BUSINESS THAT SELLS PROPERTY ON CREDIT, OR ANY PERSON OR BUSINESS TO WHICH MONEY IS OWED, IS CALLED A(N) ____. |
| REVENUE | ____ IS INCOME EARNED FROM THE SALE OF GOODS AND SERVICES. |
| WITHDRAWAL | WHEN THE OWNER TAKES CASH OR OTHER ASSETS FROM TEH BUSINESS FOR PERSONAL USE, A ___ OCCURS. |
| PROPERTY | ___IS ANYTHING OF VALUE THAT IS OWNED OR CONTROLLED |
| CAPITAL | ____ REFERS TO THE DOLLAR AMOUNT OF THE OWNER'S EQUITY IN THE BUSINESS. |
| ASSET | A(N) ___ IS ANY PROPERTY OR ITEM OF VALUE OWNED BY A BUSINESS. |
| ACCOUNTS PAYABLE | THE AMOUNT OF MONEY OWED TO A BUSINESS'S CREDITORS IS ____. |
| ACCOUNTS RECEIVABLE | ____ IS THE TOTAL AMOUNT OF MONEY TO BE RECEIVED IN THE FUTURE FOR GOODS AND SERVICES SOLD ON CREDIT. |
| CHARTER | THE LEGAL PERMISSION THAT GIVES A CORPORATION TEH RIGHT TO OPERATE IS CALLED A(N) _____. |
| LOSS | BUSINESSES THAT SPEND MORE THAN THEY RECEIVE OPERATE AT A(N) ______. |
| FISCAL PERIOD | THE TIME PERIOD COVERED BY AN ACCOUNTING REPORT IS CALLED A(N) ______. |
| SOLE PROPRIETORSHIP | A(N) _____ HAS ONE OWNER. |
| PARTNERSHIP | A(N) HAS AT LEAST TWO OWNERS. |
| ACCOUNTING CLERK | A PERSON WHO HOLDS AN ENTRY-LEVEL JOB IN ACCOUNTING IS CALLED A(N) _____. |
| ACCOUNTING SYSTEM | A(N) IS CONCERNED WITH TEH PROCESS OF RECORDING AND REPORTING FINANCIAL INFORMATION. |
| CAPITAL | THE ____ ACCOUNT SHOWS TEH AMOUNT OF TEH OWNER'S INVESTMEN, OR EQUITY, IN A BUSINESS. |
| EXPENSE ACCOUNTS | ___ARE USED TO RECORD THE COSTS AND SERVICES USED BY A BUSINESS. |
| PERMANENT ACCOUNTS | ACCOUNTS THAT ARE USED TO RECORD INFORMAITN CONTINUOUSLY FROM ONE ACCOUNTING PERIOD TO TEH NEXT ARE CALLED____? |
| REVENUE ACCOUNTS | ___RECORD BUSINESS INCOME ONLY |
| REVENUE PRINCIPLE | RECOGNIZING AND RECORDING REVENUE ON THE DATE IT IS EARNED EVEN IF CASH HAS NOT BEEN RECEIVED ON THAT DATE IS KNOWN AS THE ___ |
| TEMPORARY CAPITAL ACCOUNTS | ___ ARE USED TO RECORD INFORMATION FOR ONLY ONE ACCOUNTING PERIOD. |
| WITHDRAWAL | AN AMOUNT OF MONEY OR AN ASSET TAKEN OUT OF THE BUSINESS BY THE OWNER IS___ |
| ACCOUNTING CYCLE | A SEQUENCE OF BUSINESS ACTIVITIES COMPLETED THROUGHOUT A FISCAL PERIOD TO KEEP ACCOUNTING RECORDS IN AN ORDERLY FASHION IS THE ___ |
| CHART OF ACCOUNTS | AN "OFFICIAL" LIST OF ALL THE ACCOUNTS USED FOR JOURNALIZING IS A(N) ___ |
| CHECK STUB | THE SOURCE DOCUMENT FOR RECORDING A CASH PAYMENT TRANSACTION IS A(N) ___ |
| COMPUTERIZED ACCOUNTING SYSTEM | A SYSTEM IN WHICH INFORMATION IS RECORDED BY ENTERING INTO A COMPUTER IS CALLED A(N) ___ |
| GENERAL JOURNAL | AN ALL-PURPOSE JOURNAL ON WHICH ALL OF A BUSINESS'S TRANSACTIONS MAY BE RECORDED IS THE ___ |
| INVOICE | A(N) ___ IS THE SOURCE DOCUMENT THAT SHOWS THE DATE OF A BUSINESS TRANSACTION, THE ITEMS PURCHASED, THE QUANTITY OF EACH ITEM, AND THE COST OF EACH ITEM. |
| JOURNAL | A CHRONOLOGICAL RECORD OF BUSINESS TRANSACTIONS IS A(N)___. |
| JOURNALIZING | THE PROCESS OF RECORDING BUSINESS TRANSACTIONS IN A JOURNAL IS CALLED___. |
| LIQUIDITY | ___ REFERS TO THE EASE WITH WHICH AN ASSET CAN BE CONVERTED TO CASH. |
| MANUAL ACCOUNTING SYSTEM | RECORDING BUSINESS INFORMATION BY HAND IS DONE IN A(N) ___. |
| MEMORANDUM | A BREIF MESSAGE WRITTEN TO DESCRIBE A TRANSACTION THAT TAKES PLACE WITHIN A BUSINESS IS A(N) ___. |
| RECEIPT | THE BUSINESS PREPARED WHEN CASH IS RECEIVED IS A(N) ___. |
| SOURCE DOCUMENT | A BUSINESS PAPER THAT VERIFIES A TRANSACTION REALLY OCCURRED IS A(N) ___. |
| CORRECTING ENTRY | A ___ MUST BE MADE WHEN AN ERROR IN A JOURNAL IS DISCOVERED AFTER POSTING |
| LEDGER | A ___ IS A BOOK OR FILE THAT CONTAINS THE PAGES OR CARDS FOR THE ACCOUNTS USED BY A BUSINESS. |
| LEDGER ACCOUNT FORM | A ___ IS THE ACCOUNTING STATIONARY USED TO RECORD FINANCIAL INFORMATION ABOUT SPECIFIC ACCOUNTS. |
| POSTING | THE PROCESS OF TRANSFERNG THE INFORMATION IN A JOURNAL ETRY TO AN INDIVIDUAL ACCOUNT IS CALLED ___. |
| PROVING THE LEDGER | ADDING ALL THE DEBIT BALANCES AND ALL THE CREDIT BALANCES OF ACCOUNTS IN THE LEDGER TO DETERMINE WETHER THE TWO TOTALS ARE EQUAL IS CALLED ___. |
| SLIDE | WHEN AN AMMOUNT SUCH AS $90 IS WRITTEN AS $900, A ___ ERROR HAS OCCURRED. |
| TRANSPOSITION ERROR | A ___ RESULTS WHEN TWO NUMBERS ARE ACCIDENTALLY REVERSED. |
| TRIAL BALANCE | A ___ IS A PROOF OF THE EQUALITY OF TOTAL DEBITS AND TOTAL CREDITS. |
