accounting ch 1, 2-3
Quiz by Patty
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8 questions
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- Q1a business activity that changes assets, liabilities or owners equitytransaction30sEditDelete
- Q2a record summarizing all the information pertaining to a single item in the accounting equationaccount30sEditDelete
- Q3the name given to an accountaccount title30sEditDelete
- Q4the account used to summarize the owner's equity in a businesscapital30sEditDelete
- Q5the amount in an accountaccount balance30sEditDelete
- Q6an increase in owner's equity resulting from the operation of a businessrevenue30sEditDelete
- Q7a sale for which cash will be received at a later datesale on account30sEditDelete
- Q8a decrease in owner's equity resulting from the operation of a businessexpense30sEditDelete