A decrease in owner's equity resulting from the operation of a business.

The account used to summarize the owner's equity in the business.

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

The amount in an account.

Organized summaries of a business's financial activities.

A business that performs an activity for a fee.

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

Planning, recording, analyzing, and interpreting financial information.

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

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

A business owned by one person.

Financial reports that summarize the financial conditions and operations of a business.

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

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

An amount owed by a business.

Financial rights to the assets of a business.

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

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

A sale for which cash will be received at a later date.

Anything of value that is owned.

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