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

Chapter 2 vocab

QuestionAnswer
An increase in owner's equity resulting from the operation of a business Revenue
A sale for which cash will be received at a later date Sale on Account
A decrease in owner's equity resulting from the operation of a business Expense
When revenue is recorded at the time goods or services are sold Realization of Revenue
Assets taken out of a business for the owner's personal use Withdrawals
When a business' financial information is recorded and reported separately from the owner's personal financial information Business entity
Anything of value that is owned Asset
An amount owed by a business Liabilities
The amount remaining after the value of all liabilities is subtracted from the value of all assets Owner's Equity
The amount in an acount Account balance
An equation showing the relationship among assets, liabilities, and owner's equity Accounting Equation
A business activity that changes assets, liabilities, or owner's equity Transaction
When business transactions are stated in numbers that have common values; using a common unit of measurement Unit of measurement
A record summarizing all the information pertaining to a single item in the accounting equation Account
The name given to an account Account title
The account used to summarize the owner's equity in a business Capital
When financial statements are prepared with the expectation that a business will remain in operation indefinitely Going Concern
Amounts are to be added or subtracted Single rule
The totals have been verified as correct Double rule
Created by: echavez0195