Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
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
Normal Size Small Size show me how
jk Acct I Unit 1
AR Accounting I Unit 1
| Question | Answer |
|---|---|
| a person who plans, summarizes, analyzes, and interprets accounting information | Accountant |
| planning, recording, analyzing, and interpreting financial information | Accounting |
| commonly accepted concepts that guide accounting personnel in their work | Accounting concepts |
| changes in financial information are reported for a specific period of time in the form of financial statements | Accounting period cycle |
| financial statements contain all information necessary to understand a business' financial condition | Adequate disclosure concept |
| a person who does general accounting work plus some summarizing and analyzing of accounting information | Bookkeeper |
| financial information is recorded and reported separately from the owner's personal financial information | Business entity |
| the use of personal ethics in making business decisions | Business ethics |
| designation by the American Institute of Certified Public Accountants for those who pass an exam and meet work-experience requirements. | Certified Public Accountant (CPA) |
| the same accounting procedures must be followed in the same way in each accounting period | Consistent reporting |
| a legal entity that is separate and distinct from its owners | Corporation |
| the principles of right and wrong that guide an individual in making decisions | Ethics |
| moral values and principles that determine our conduct in the business world | Ethical business practices |
| a person who does general kinds of office tasks, including some accounting tasks | General office clerk |
| financial statements are prepared with the expectation that a business will remain in operation indefinitely | Going concern concept |
| when the actual amount paid for merchandise or other items bought is recorded | Historical cost |
| the quality or fact of being honest; truthfulness | Honesty |
| adherence to moral and ethical principles; soundness of moral character; honesty | Integrity |
| a business that purchases and sells goods | Merchandising business |
| a source document is prepared for each transaction | Objective evidence |
| a business in which two or more people combine their assets and skills | Partnership |
| freedom from unauthorized intrusion; state of being let alone and ablility to keep personal matters confidential | Privacy |
| revenue is recorded at the time goods or service are sold | Realization of revenue |
| a business that performs an activity for a fee | Service business |
| a business owned by one person | Sole proprietorship |
| consistently telling the truth; honest | Truthfulness |
| any activity that contradicts moral values and principles that determines our conduct in the business world | Unethical business practices |
Created by:
janiek
Popular Accounting sets