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 prviding finacial 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 is owned. |
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Term
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Definition
| Finacial 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 relationships 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 in a business. |
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Term
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Definition
| A financial statement tyhat reports assets, liabilities, and owner's equity on a specific date. |
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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
| an accounting device used to analyze transcations. |
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Term
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Definition
| The amount recorded on the left side of a t-account. |
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Term
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Definition
| The amount recorded on the right side of a t-account. |
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Term
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Definition
| The side of a 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
| A form for recoring transactions in chronjological 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 column 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
| 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 descibing the goods or services sold, the quantity, and the price. |
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Term
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Definition
| An invoice used as a source document for recording a sale on account. |
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Term
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Definition
| A busiess form giving written acknoledgement 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 accounting records. |
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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 general ledger, assigning account numbers, 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 jounal 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 signiture or stamp on the back of a check tranferring ownership. |
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Term
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Definition
| An endorsement consisting only of the endorser's signiture. |
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Term
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Definition
| An endorsement indicating a new owner of a check |
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Term
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Definition
| An endorsement restricting futher tranfer 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 depostits,withdrawls, 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 funds. |
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Term
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Definition
| A bank card that, when making purchases, automatically deducts 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 proof of a petty cash payment. |
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