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Accounting Ch. 1 Quiz

Select the Definition that corresponds to the displayed Term.
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1. financial statements




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2. account




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3. account balance




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4. withdrawls




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5. liabilty




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6. equities




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7. owner's equity




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8. sale on account




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9. asset




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10. business ethics




Select the Term that corresponds to the displayed Definition.
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11. A business activity that changes assets, liabilities, or owner's equity.




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12. the name given to an account




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13. A business that performs an activity for a fee.




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14. 




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15. A planned process for providing financial information that will be useful to management.




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16. An equation showing




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17. The principles of right and wrong that guide an individual in making decisions.




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18. A decrease in owner's equity




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19. Planning, recording, analyzing, and interpreting financial information.




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20. An increase in owner's equity resulting from the operation of a business.





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