Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
remaining cards
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 "Know" box, the DOWN ARROW key to move the card to the "Don't know" 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!

"Know" 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


Chapter 3

Property Anything of value that a person or business owns and therefore controls
Financial Claim A legal right to an item
Credit When you buy something and agree to pay for it later
Creditor The business or person selling you the item on credit
Assets Property or items of value owned by a business
Owner's Equity The owner's claims to the assets of the business
Liabilities The creditor's claims to the assets of the business
Business Transaction An economic event that causes a change- either an increase or decrease- in assets, liabilities, or owner's equity
Account a subdivision under assets, liabilities, or owner's equity
Accounts Receivable The total amount of money owed to a business- money to be received later because of the sale of goods or services on credit
Accounts Payable The amount owed, or payable, to the creditors of a business
Investment Money or other property paid out in order to produce profit
On Account When a business buys an item on credit
Revenue Income earned from the sale of goods or services
Expense The cost of products or services used to operate a business
Created by: 535816