Quizlet Accounting Chapter 1. A business activity that changes assets, liabilities, or owner's equity answer choices accounting equation transaction equities asset question 2 30 seconds q. Web the accounting concept that assumes that the economic life of the business can be divided into time periods accrual basis of accounting under this basis of accounting, revenues.
Accounting & Finance I Assignments
Web a person who organizes and prepares a business plan. A person that dreams of one day starting his/her own business. The review of financial statements to assess their fairness and adherence to generally accepted accounting principles. The process by which financial information about a business is recorded, classified, summarized, interpreted, and communicated to owners, managers, and other interested parties. A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. Answer choices accounting equation account balance accounting system account records question 3 A planned process for providing financial information that will be useful to management. Organized summaries of a business's. Retained earnings the amount of stockholder's equity that the corporation has earned through profitable operation and has not given back to stockholders. Web planning, recording, analyzing, and interpreting financial information.
Web the accounting concept that assumes that the economic life of the business can be divided into time periods accrual basis of accounting under this basis of accounting, revenues. Web study with quizlet and memorize flashcards containing terms like accounting, accounting system, financial statement and more. Retained earnings the amount of stockholder's equity that the corporation has earned through profitable operation and has not given back to stockholders. The process by which financial information about a business is recorded, classified, summarized, interpreted, and communicated to owners, managers, and other interested parties. Organized summaries of a business's. The main purpose of financial accounting is to prepare financial reports that provide information about a firm's performance to external parties such as investors, creditors, and tax authorities. Web the accounting concept that assumes that the economic life of the business can be divided into time periods accrual basis of accounting under this basis of accounting, revenues. Web chapter 1 terms in this set (22) accounting planning, recording, analyzing, and interpreting financial information accounting system a planned process for providing financial information that will be useful to management accounting records organized summaries of a business's financial activities financial statements A person that works for a big accounting firm like kpmg. Answer choices accounting equation account balance accounting system account records question 3 Web a person who organizes and prepares a business plan.
