Question 1

Planning, recording, analyzing, and interpreting financial information.

Accepted Answer

accounting

Question 2

A planned process for providing financial information that will be useful to management

Accepted Answer

accounting system

Question 3

Organized summaries of a businesses' financial activities

Accepted Answer

accounting records

Question 4

Financial reports that summarize the financial condition and operations of a business.

Accepted Answer

financial statements

Question 5

A business that performs an activity for a fee/

Accepted Answer

service business

Question 6

A business owned by a single person.

Accepted Answer

properietorship

Question 7

Anything of value

Accepted Answer

asset

Question 8

Financial rights to the assets of a business.

Accepted Answer

equities

Question 9

An amount owed by a business

Accepted Answer

liability

Question 10

Amount remaining after the value of all liabilities is subtracted from the value of all assets

Accepted Answer

owner's equity

Question 11

An equation showing the relationship among assets, liabilities, and owner's equity.

Accepted Answer

accounting equation

Question 12

The principles of right and wrong that guide an individual in making decisions

Accepted Answer

ethics

Question 13

The use of ethics in making business decisions.

Accepted Answer

business ethics

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