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| The price paid for goods or services used to operate a business. |
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| Income earned from the sale of goods or services. |
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| When an owner takes cash or other assets from the business for personal use. |
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| The increase or decreases in a specific item caused by business transactions are recorded in a(n) ___ |
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| The ____ is Assets = Liabilities + Owner's Equity. |
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| The amount of money owed to the creditors of a business is ___. |
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| ____ is the total amount of money to be received in the furutre for goods and services sld on credit. |
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| A(n) ____ is any property of item of value owned by a business. |
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| A(n) ____ i san ecomomic event taht causes a changein assets, liabilities, or owner's equity. |
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| ____ refers to the dollar amount of the onwer's equity in the business. |
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| A person or business that sells property on credit, or any person or business to which money is owed, is called a(n)___. |
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| The total financial claims to the assets of a business are known as ___. |
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| ___ are the creditor's claims to the assets of the business. |
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| Buying ____is the same as buying on credit. |
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| The owner's claims to the total assets of the business are called ____. |
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| ____ is anything of value that is owned or controlled. |
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