Accounting I vocabulary

Match it! Select the correct answer from the pull down...Good luck!

The amount remaining after the value of all liabilities is subtracted from the value of all assets.

The recording of debit and credit parts of a transaction.

Assets taken out of a business for the owner's personal use.

A form for recording transactions in chronological order.

A group of accounts

A business activity that changes assets, liabilities, or owner's equity.

An increase in owner's equity resulting from the operation of a business.

The accounting equation could be stated as