chapter 1
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 | show 🗑
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| Accounting system | show 🗑
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| financial statements | show 🗑
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| net worth statement | show 🗑
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| show | Anything of value that is owned
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| liability | show 🗑
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| personal net worth | show 🗑
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| equity | show 🗑
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| show | The principles of right and wrong that guide an individual in making decisions
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| business ethics | show 🗑
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| service business | show 🗑
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| show | A business owned by one person
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| business plan | show 🗑
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| show | Generally accepted accounting principals. The standards and rules that accountants follow while recording and reporting
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| show | Financial rights to to the assets of a business
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| owners equity | show 🗑
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| show | Equation showing relationships about assets, liabilities, and owners equity
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| show | Financials rights to the assets and liabilities
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| owners equity | show 🗑
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| show | An equation showing the relationship among among assets, liabilities and owners equity
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| transaction | show 🗑
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| account | show 🗑
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| account title | show 🗑
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| account balance | show 🗑
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| capital amount | show 🗑
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| show | A person or a business to whom a liability is owed.
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| revenue | show 🗑
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| sale on account | show 🗑
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| show | The cost of good or services used to operate a business
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| show | assets taken from the business for the owners personal use.
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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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