1st accounting quiz
Quiz by Patty
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13 questions
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- Q1Planning, recording, analyzing, and interpreting financial information.accounting30s
- Q2A planned process for providing financial information that will be useful to managementaccounting system30s
- Q3Organized summaries of a businesses' financial activitiesaccounting records30s
- Q4Financial reports that summarize the financial condition and operations of a business.financial statements30s
- Q5A business that performs an activity for a fee/service business30s
- Q6A business owned by a single person.properietorship30s
- Q7Anything of valueasset30s
- Q8Financial rights to the assets of a business.equities30s
- Q9An amount owed by a businessliability30s
- Q10Amount remaining after the value of all liabilities is subtracted from the value of all assetsowner's equity30s
- Q11An equation showing the relationship among assets, liabilities, and owner's equity.accounting equation30s
- Q12The principles of right and wrong that guide an individual in making decisionsethics30s
- Q13The use of ethics in making business decisions.business ethics30s