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| Income that the business receives over a period of time |
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| The value of the owners investment in the business |
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| The assets, liabilities, and owner’s equity for a specific date |
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| Reports the revenue, expenses, and net income or loss for a specific period |
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| Assets = Liabilities + Owners Equity |
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| Record and analyze the financial performance of a business |
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| The decrease in value of a property as it becomes old and gradually wears out |
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| A detailed account of a company’s materials, supplies, and finished products |
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| Identify all purchases and sales made using credit |
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| The companies from which credit purchases were made and the amounts purchased, paid, and owed |
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| The customers that made purchases using credit and the status of an account |
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| Determines the percentage of gross pay which will be withheld for taxes |
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| Used to verify the eligibility of individuals to avoid hiring undocumented workers or others who are not eligible to work in the United States |
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| The total amount of money earned during a pay period before deductions |
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| The amount of money left after all deductions have been withheld from the gross pay earned in the pay period |
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| This tax includes two separate taxes: Social Security and Medicare |
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| Nation’s retirement program, helps provide retirement income for elderly and pays disability benefits |
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| Costs of operating a business |
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