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