Accounting Word Scramble
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| Term | Definition |
| Account | a record summarizing all the information pertaining to a single item in the accounting equation |
| Accoounting | planning, recording, analyzing, and interpreting financial information |
| Accounting Equation | an equation showing the relationship among assets, liabilities, and owner's equity |
| Assets | anything of value that is owned |
| Balance Sheet | a financial statement that reports assets, liabilities, and owner's equity on a specific date |
| Capital | the account used to summarize the owner's equity in a business |
| Equities | financial rights to the assets of a business |
| Liability | an amount owed by a business |
| Owner's Equity | the amount remaining after the value of all liabilities is subtracted from the value of all assets |
| Proprietorship | a business owned by one person |
| Transaction | a business activity that changes assets, liabilities, or owner's equity |
Created by:
krodden0
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