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Definition
| Planning, recording, analyzing, and interpreting financial information is called |
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Definition
| A planned process for providing financial information that will be useful to management |
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| organized summaries of a business's financial activities |
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| Financial reports that summarize the financial condition and operations of a business |
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Definition
| A business that performs an activity for a fee |
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Definition
| a business owned by one person |
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Definition
| anything of value that is owned |
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Definition
| financial rights to the assets of a business |
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Definition
| an account owed by a business |
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Definition
| the amount remaining after the value of all liabilities is subtracted from the value of all assets |
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Definition
| an equation showing the relationship among assets, liabilities, and owner's equity |
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Definition
| the principles of right and wrong that guide and individual in making decisions |
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Definition
| the use of ethics in making business decisions |
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Definition
| a business activity that changes assets, liabilities, or owner's equity |
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Definition
| a record summarizing all the information pertaining to a sing item in the accounting equation |
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Definition
| the name given to an account |
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Definition
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Definition
| the account used to summarize the owner's equity in a business |
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Definition
| An increase in owner's equity resulting from the operation of a business |
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Definition
| A sale for which cash will be received at a later date |
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Definition
| A decrease in owner's equity resulting from the operation of a business |
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Term
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Definition
| Assets taken out of a business for the owner's personal use |
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