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
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

F19 Acct 1.02 Vocab

Vocabulary for Accounting 1.02

TermDefinition
Business Entity The accounting assumption that a business exists independently of its owner’s personal holdings. The accounting records and reports are maintained separately and contain financial information related only to the business.
Capital Money supplied by investors, banks, or owners of a business
Charter The legal permission, granted by a state, that gives a corporation certain rights and privileges and spells out the rules under which the corporation is to operate.
Corporation A business organization recognized by law to have a life of its own.
Entrepreneur A person who transforms ideas for products or services into real-world businesses.
For-Profit business A business that operates to earn a profit for its owners.
Free Enterprise System A system in which individuals are free to produce the goods and services they choose.
Going Concern The accounting assumption that a business is expected to survive and operate indefinitely.
Loss The result when a business spends more money than it earns.
Manufacturing Business A business that buys raw materials, transforms them into finished products by using labor and machinery, and sells the finished products to individuals or other businesses.
Merchandising Business A business that buys finished goods and resells them to individuals or other businesses.
Non-Profit business An organization that operated for purposes other than making a profit.
Partnership A business owned by two or more persons, called partners, who agree to operate the business as co-owners.
Profit The amount of money earned above the amount of expense incurred to keep the business operating.
Service Business A business that provides a needed service for a fee.
Sole Proprietorship A business owned by one person.
Created by: denise.stevens5