Welcome to StudyStack, where users create FlashCards and share them with others. Click on the large flashcard to flip it over. Then click the green, red, or yellow box to move the current card to that box. Below the flashcards are blue buttons for other activities that you can try to study the same information.
Test Android StudyStack App
Please help StudyStack get a grant! Vote here.
Reset Password Free Sign Up

Free flashcards for serious fun studying. Create your own or use sets shared by other students and teachers.

Remove Ads
incorrect cards (0)
correct cards (0)
remaining cards (0)
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the Correct box, the DOWN ARROW key to move the card to the Incorrect box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

Correct box contains:
Time elapsed:
restart all cards

Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

accounting chapter 1

chapter 1

plannning,recording,analyzing, & interpreting financial information accounting
planned process for providing financial information that will be useful to management accounting system
organized summaries of a business's financial activities accounting records
a business that performs an activity for a fee service business
a business owned by one person proprietorship
anything of value that is owned asset
financial rights to the assets of a business equities
an amount owed by a business liability
amount remaining after the value of all liabilities is subtracted from the value of all assets owner's equity
equation showing the relationship among assets; liabilities; & owner's equity accounting equation
a business activity that changes assets, liabilities; & owner's equity transaction
a record summarizing all the information pertaining to a single item in the accounting equation balance sheet
the name given to an account account title
the amount in an account account balance
the account used to summarize the owner's equity in a business capital
a financial statement that reports assets; liabilities; and owner's equity on a specific date account
accounting is a _______ of business language
you should keep personal & business records _______ separate
the relationship among assets; liabilities; & owner's equity can be written as _______ an equation
the accounting equation ALWAYS has to be _________ in balance
owners equity account capital account
when an item is bought and paid for at a later date buying on account
when cash is paid on account; what is increased? liability
on a balance sheet a single line means______ amounts are added or subtracted
Created by: kunk214 on 2007-09-05

bad sites Copyright ©2001-2015  StudyStack LLC   All rights reserved.