| Flap 1 | Flap 2 |
| Accounting Records | Organized summaries of a business's financial activities |
| Accounting System | a planned process for providing financial information that will be useful to management |
| Asset | Anything of valued owned |
| Liabilities | Anything of valued that is owed |
| Owner's Equity | the amount remaining after the liabilities are subtracted from the assets |
| Balance Sheet | A financial statement that reports assets, liabilities, and owner's equity on a specific date |
| Equities | financial rights to the assets of the business |
| Accounting | Planning, recording, analyzing, and interpreting financial information. |
| Accounting Equation | An equation showing the relationship amoung assets, liabilitaies, and owner's equity |
| Service Business | a business that provides a service for a fee |
| Proprietorship | A business owned by one person |
| Transaction | (blank) |
| Account | (blank) |
| Account Title | (blank) |
| Account Balance | (blank) |
| Capital | (blank) |
