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
| Organized summaries of a business's financial activities. |
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Definition
| A business that 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's 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 value of all liabilites 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, liabilites, and owner's equity. |
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Term
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Definition
| A business activity that changes assets, liabilites, 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 in 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
| Assets taken out of a business for the owner's personal use. |
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