Term
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Definition
| Planning, recording, analyzing, and interpreting financial information. |
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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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Term
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Definition
| Organizedb summaries of a business's financial activities. |
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| A business thst performs an activity 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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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 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
| 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
| The amount in an account. |
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Term
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Definition
| The account used to summarize the owner's equity |
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Term
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Definition
| A financial statement that reports assets, liabilities, and owner's equity. |
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Term
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Definition
| A form of recording in chronological order. |
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Term
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Definition
| Recording transactions in a journal. |
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Term
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Definition
| A journal amount column headed with an account title. |
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Term
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Definition
| A journal amount that is not headed with an account title. |
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Term
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Definition
| Information for each transaction recorded in a journal. |
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Term
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Definition
| The recording of debit and credit parts of a transaction. |
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Term
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Definition
| A business paper from which information is obtained for a journal entry. |
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Term
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Definition
| A business form ordering a bank to pay cash from a bank account. |
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Term
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Definition
| A form describing the goods or services sold, the quantity, and the price. |
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Term
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Definition
| Invoice used as a source document for recording a sale on account. |
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Term
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Definition
| A business form given written acknowledgement for cash received. |
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Term
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Definition
| A form on which a brief message is written describing a transaction. |
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Term
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Definition
| Determining that the amount of cash agrees with the accounting records. |
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Term
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Definition
| An accounting device used to analyze transactions. |
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Term
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Definition
| An amount recorded on the right side. |
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Term
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Definition
| An ammount recorded on the left side. |
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Term
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Definition
| The side of the account that is increased. |
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Term
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Definition
| A list of accounts used by a business. |
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Term
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Definition
| an increase in owner's equity resulting from 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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Term
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Definition
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Term
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Definition
| A ledger that contains all accounts needed to prepare financial statements. |
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Term
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Definition
| The number assigned to an account. |
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Term
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Definition
| The procedure for arranging accounts in a general ledger, assigning account numbersm and keeping records current. |
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Term
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Definition
| Writing an account title and number on the heading of an account. |
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Term
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Definition
| Transferring information from a journal entry to a ledger account. |
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Term
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Definition
| In such a case, the incorrect journal entry should be corrected with an additional journal entry. |
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Term
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Definition
| A bank account from which payments can be ordered by a depositor. |
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Term
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Definition
| A signature or stamp on the back of a check transferring ownership. |
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Term
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Definition
| An endorsement indication a new owner of a check |
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Term
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Definition
| An endorsement consisting only of the endorser;s signature. |
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Term
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Definition
| an endorsement restricting further transfer of a check's ownership. |
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Term
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Definition
| A check with a future date on it. |
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Term
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Definition
| A report of deposits, withdrawals, and bank balances sent to a depositor by a bank. |
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Term
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Definition
| A check that a bank refuses to pay. |
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Term
| Electronic funds transfer |
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Definition
| A computerized cash payments system that uses electronic impulses to transfer funds. |
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Term
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Definition
| A bank card that, when making purchases, automatically debucts the amount of the purchase from the checking account of the cardholder. |
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Term
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Definition
| An amount of cash kept on hand and used for making small payments. |
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Term
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Definition
| A form showing proff of a petty cash payment |
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Term
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Definition
| The percentage relationship between one financial statement item and the total that includes that item. |
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Term
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Definition
| A business in which two or more persons combine their assets and skills |
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Term
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Definition
| Each member of a partnership. |
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Term
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Definition
| A business that purchases and sells goods. |
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Term
| Retail merchandising business |
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Definition
| A merchandising business that sells to those who use or consume the goods. |
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Term
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Definition
| Goods that a merchandising business purchases to sell. |
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Term
| Wholesale merchandising business |
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Definition
| A business that buys and resells merchandise to retail merchandising businesses. |
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Term
| Retail merchandising business |
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Definition
| A merchandising business that sells to those who use or consume the goods |
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Term
| Wholesale merchandising business |
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Definition
| A business that buys and resells merchandise to retail merchandising businesses |
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Term
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Definition
| The price a business pays for goods it purchases to sell |
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Term
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Definition
| The amount added to the cost of merchandise to establish the selling price |
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Term
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Definition
| A business from which merchandise is purchased or supplies or other assets are brought |
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Term
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Definition
| An invoice used as a source document for recording a purchase on account transaction |
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Term
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Definition
| An agreement between a buyer and a seller about payment for merchandise |
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