Controlling expenses is important in accounting because of good record keeping

is defined as anything an individual or business owns t

Net worth is

A report that list company's assets, liabilities, and owner's equity

This statement covers 6 months or a year of revenue, expenses and net income or loss from operations

Identifying trends in the industry is the purpose of the __

Stock onwership is ____

Learning how to keep records of a business is called

The accounting cycle has __ parts

The purpose of accounting is to control the finances of the business

Being accurate and up to date is important component in accounting

The management of large amounts of money is defined as __

The first step in the accounting cycle is

The equation for accounting is

A person who approved a loan for a business is called

This is the result of revenue being greater than expenses

Net worth is defined as the difference between a person's assets an liabilities

The value of the borrower's possessions, including money and property owned

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