Shared Flashcard Set

Details

accounting review 1
review
10
Accounting
9th Grade
12/14/2011

Additional Accounting Flashcards

 


 

Cards

Term
INDEPENDENCE
Definition
The principle that requires accountants to have no financial interest in the company being audited
Term
INTEGRITY
Definition
The principle that requires accounts to choose what is right and just over what is wrong
Term
ACCOUNTS RECEIVABLE
Definition
The amount of moneyowed to a business by its credit customers
Term
CAPITAL
Definition
Money supplied by investors, banks, of owners of a business
Term
ACCOUNTS PAYABLE
Definition
The amount of money owed, or payable, to the creditors of a business
Term
EXPENSE
Definition
The cost of goods or services used to operate a business
Term
ASSET
Definition
Property or items of value owned by a business
Term
RECEIPT
Definition
A source document that serves as record of cash received
Term
INVOICE
Definition
A source document that lists the quantity, description, unit price, and total cost of the items sold and shipped to a buyer
Term
OBJECTIVITY
Definition
The principle that requires accountants to be impatial, honest, and free of conflicts of interest
Supporting users have an ad free experience!