Accounting
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| Flap 1 |
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| Flap 2 |
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| 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) |
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