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

The standards and rules that accountants follow while recording/reporting financial activities

Planning, recording, analyzing, and interpreting financial information

A planned process for providing financial information that will be useful to management

Organized summaries of a business's financial activities

A business that performs an activity for a fee

A business owned by one person

This is applied when a business's financial information is recorded and reported separately from the owner's personal financial information

Anything of value that is owned

Financial rights to the assets of a business

An amount owed by a business

An equation showing the relationship among assets, liabilities, and owner's equity

The principles of right and wrong that guide an individual in making decisions

The use of ethics in making business decisions

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

This is applied when business transactions are stated in numbers that have common value

A record summarizing all the information pertaining to a single item in the accounting equation

The name given to an account

The amount in an account

The ACCOUNT used to summarize the owner's equity in a business

Teachers: Create FREE classroom games with your questions Click for more info!
©2007-2024 Review Game Zone | About | Privacy | Contact | Terms | Site Map