Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


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
Know
remaining cards
Save
0:01
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:
Retries:
restart all cards
share
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

SDV196 Chapter 7

Vocabulary

TermDefinition
Financial Report written reports that summarize the results of financial transactions affecting a business and report its current financial position
Accounting Period a block of time covered by an accounting report
Accounting Cycle activities or steps, that help a business keep its accounting records in an orderly manner
Accounting Equation Assessts - Liabilities= Owner's Equity
Accounts Recievable total amount of money owed to a business by customers
Journal record of all transactions for a business
General Ledger a book or set of electronic files that contains the accounts used for a business
Posting the process of recording transfers of amounts from the general journal to individual accounts in the general ledger
Income Statement a report of the income net or net loss for an accouting period
Financial Statement reports that summarize changes that results from business transactions during an accounting period
Cost of Merchandise sold the amount of money business paid for goods that it sold to customers
Net Income the amount of revenue that remains after expenses for the accounting period are subtracted from the gross profit on sales
Balance Sheet a report of the balances of all asset, liablitily, and owner equity accounts at the end of an accounting period