Chapter 3 vocab Word Scramble
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| Question | Answer |
| An accounting device used to analyze transactions | T Account |
| The side of the account that is increased | Normal Balance |
| An amount recorded on the left side | Debit |
| An amount recorded on the right side | Credit |
| A list of accounts used by a business | Chart of Accounts |
| An increase in owner's equity resulting from the operation of a business | Revenue |
| Anything of value that is owned | Assets |
| 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 |
| A decrease in owner's equity resulting from the operation of a business | Expenses |
| Assets taken out of a business for the owner's personal use | Withdrawal |
| Account a business owes money to | Accounts Payable |
| Money owed to a business by its debitors | Accounts Receivable |
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