Chapter 2
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| accounting period | the period of time covered by an accounting report
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| accounting system | a system designed collect an document and report on business transactions
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| business entity chapter | the accounting assumption that a business exists independently of its owners personal holdings the accounting records and reports are maintained separately and contain financial information related only to the business
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| computerized accounting system | a type of accounting system in which information is recorded by entering into a computer
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| corporation | a business organization recognized by law to have a life of its life
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| entrepreneur | a person who transforms ideas for products or services or services into real world business
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| financial accounting | the type of accounting that focus on reporting information to external users
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| financial reports | documents that present summarized information about the finical status of a business
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| free enterprise system | a system in which individuals are free produce the goods and services they choose
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| GAAP | the set of rules that all accountants use to prepare financial reports
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| going concern | the accounting assumption that a business is expected to operate indefinitely
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| manual accounting system | a type of accounting system in which information is processed by hand
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| manufacturing business | a business that buys raw materials and transforms them into finished products by using labor and machinery
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| merchandising business | a business that buys finished goods and results and resells them to individuals or other business
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| partnership |
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| service business |
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| sole proprietorship |
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| management accounting |
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
jcoghlan19
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