Accounting I Chapters 1-3 Vocabulary Review

The amount in an account. Please click the arrow button to advance…

business ethics business ethics business ethics business ethics account balance account balance account balance account balance debit debit debit Please click the arrow button to advance…

A record summarizing all the information pertaining to a single item in the accounting equation. Please click the arrow button to advance…

expense expense expense account account account receipt receipt receipt Please click the arrow button to advance…

The name given to an account. The name given to an account. Please click the arrow button to advance…

chart of accounts chart of accounts chart of accounts chart of accounts liability liability liability account title account title account title account title Please click the arrow button to advance…

Planning, recording, analyzing, and interpreting financial information. Please click the arrow button to advance…

double-entry accounting double-entry accounting double-entry accounting double-entry accounting memorandum memorandum memorandum accounting accounting accounting Please click the arrow button to advance…

An equation showing the relationship among assets, liabilities, and owner’s equity. Please click the arrow button to advance…

accounting equation accounting equation accounting equation accounting equation normal balance normal balancenormal balancenormal balance chart of accounts chart of accounts chart of accounts chart of accounts Please click the arrow button to advance…

Organized summaries of a business’s financial activities. Please click the arrow button to advance…

transaction transaction transaction accounting records accounting records accounting records accounting records financial statements financial statements financial statements financial statements Please click the arrow button to advance…

A planned process for providing financial information that will be useful to management. Please click the arrow button to advance…

accounting system accounting system accounting system accounting system invoice invoice invoice memorandum memorandum memorandum Please click the arrow button to advance…

The account used to summarize the owner’s equity in a business. Please click the arrow button to advance…

capital capital capital asset asset asset T account T account T account T account Please click the arrow button to advance…

Anything of value that is owned. Please click the arrow button to advance…

liability liability liability asset asset asset owner’s equity owner’s equity owner’s equity owner’s equity Please click the arrow button to advance…

A decrease in owner’s equity resulting from the operation of a business. Please click the arrow button to advance…

expense expense expense withdrawals withdrawals withdrawals owner’s equity owner’s equity owner’s equity owner’s equity Please click the arrow button to advance…

The use of ethics in making business decisions. Please click the arrow button to advance…

business ethics business ethics business ethics business ethics normal balance normal balance normal balance normal balance journalizing journalizing journalizing Please click the arrow button to advance…

Financial rights to the assets of a business. Please click the arrow button to advance…

sales invoice sales invoice sales invoice sales invoice sale on account sale on account sale on account sale on account equities equities equities Please click the arrow button to advance…

Financial reports that summarize the financial condition and operations of a business. Please click the arrow button to advance…

receipt receipt receipt financial statements financial statements financial statements financial statements journalizing journalizing journalizing Please click the arrow button to advance…

An amount owed by a business. Please click the arrow button to advance…

debit debit debit liability liabilityliability invoice invoice invoice Please click the arrow button to advance…

The amount remaining after the value of all liabilities is subtracted from the value of all assets. Please click the arrow button to advance…

special amount column special amount column special amount column special amount column normal balance normal balance normal balance normal balance credit balance credit balance credit balance credit balance Please click the arrow button to advance…

A business that performs an activity for a fee. Please click the arrow button to advance…

credit credit credit service business service business service business service business Non-profit organization Non-profit organization Non-profit organization Non-profit organization Please click the arrow button to advance…

A business owned by one person. Please click the arrow button to advance…

proprietorship proprietorship proprietorship T account T accountT accountT account cooperation cooperation cooperation Please click the arrow button to advance…

An increase in owner’s equity resulting from the operation of a business. Please click the arrow button to advance…

journalizing journalizing journalizing revenue revenue revenue ethics ethics ethics Please click the arrow button to advance…

A sale for which cash will be received at a later date. Please click the arrow button to advance…

sale on account sale on account sale on account sale on account expense expense expense proving cash proving cash proving cash proving cash Please click the arrow button to advance…

A business activity that changes assets, liabilities, or owner’s equity. Please click the arrow button to advance…

withdrawals withdrawals withdrawals double-entry accounting double-entry accounting double-entry accounting double-entry accounting transaction transaction transaction Please click the arrow button to advance…

Assets taken out of a business for the owner’s personal use Please click the arrow button to advance…

financial statements financial statements financial statements financial statements withdrawals withdrawals withdrawals deposits deposits deposits Please click the arrow button to advance…

The principles of right and wrong that guide an individual in making decisions. Please click the arrow button to advance…

financial statements financial statements financial statements financial statements general amount column general amount column general amount column general amount column ethics ethics ethics Please click the arrow button to advance…

The side of the account that is increased. Please click the arrow button to advance…

normal balance normal balance normal balance normal balance credit balance credit balance credit balance credit balance debit balance debit balance debit balance debit balance Please click the arrow button to advance…

A list of accounts used by a business. Please click the arrow button to advance…

chart of accounts chart of accounts chart of accounts chart of accounts debit debit debit sales invoice sales invoice sales invoice sales invoice Please click the arrow button to advance…

An amount recorded on the right side of a T account. Please click the arrow button to advance…

debit debit debit deposit deposit deposit credit credit credit Please click the arrow button to advance…

An amount recorded on the left side of a T account. Please click the arrow button to advance…

credit credit credit debit debit debit account balance account balance account balance account balance Please click the arrow button to advance…

An accounting device used to analyze transactions. Please click the arrow button to advance…

special amount column special amount column special amount column special amount column T account T account T account T account source document source document source document source document Please click the arrow button to advance…

A business form ordering a bank to pay cash from a bank account. Please click the arrow button to advance…

deposit slip deposit slip deposit slip deposit slip memo memo memo check check check Please click the arrow button to advance…

Determining that the amount of cash agrees with the accounting records. Please click the arrow button to advance…

proprietorship proprietorship proprietorship proving cash proving cash proving cash proving cash credit credit credit Please click the arrow button to advance…

A journal amount column that is not headed with an account title. Please click the arrow button to advance…

chart of accounts chart of accounts chart of accounts chart of accounts general amount column general amount column general amount column general amount column special amount column special amount column special amount column special amount column Please click the arrow button to advance…

The recording of debit and credit parts of a transaction. Please click the arrow button to advance…

double-entry accounting double-entry accounting double-entry accounting double-entry accounting proving cash proving cash proving cash proving cash accounting accounting accounting Please click the arrow button to advance…

A form for recording transactions in chronological order. Please click the arrow button to advance…

checkbook checkbook checkbook source document source document source document source document journal journal journal Please click the arrow button to advance…

Recording transactions in a journal. Please click the arrow button to advance…

correcting correcting correcting journalizing journalizing journalizing double-entry accounting double-entry accounting double-entry accounting double-entry accounting Please click the arrow button to advance…

A form on which a brief message is written describing a transaction. Please click the arrow button to advance…

memorandum memorandum memorandum invoice invoice invoice sales invoice sales invoice sales invoice sales invoice Please click the arrow button to advance…

A journal amount column headed with an account title. Please click the arrow button to advance…

T-account T-account T-account normal balance normal balance normal balance normal balance special amount column special amount column special amount column special amount column Please click the arrow button to advance…

A business form giving written acknowledgement for cash received. Please click the arrow button to advance…

normal balance normal balance normal balance normal balance check check check receipt receipt receipt Please click the arrow button to advance…

A business paper from which information is obtained for a journal entry. Please click the arrow button to advance…

transaction transaction transaction source document source document source document source document memo memo memo Please click the arrow button to advance…

CORRECT!!!! Please click the button to return to the last slide.

SORRY!! WRONG! Please click the button to return to the last slide.