| Properties used in the operation of a business |
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| Claims by creditors to the property (assets) of a business |
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| Owner's rights and claims to the property (assets) of a business |
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| Increases to owner's equity resulting from business operations |
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| Decreases to owner's equity resulting from business operations |
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| Decreases to owner's equity resulting from owner withdrawals |
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| A financial event recorded in the books of a business |
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| Every transaction is recorded in at least two places (accounts) |
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| Record for each asset, liability,revenue, and expense |
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| A book containing all the accounts and balances of a business |
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| Record where business transactions are first recorded |
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| A worksheet listing all of the general ledger account balances |
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| Statement of a business's assets, liabilities, and owner's equity |
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| Statement that summarizes revenues and expenses |
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| A coded listing of all the accounts in the general ledger |
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| Amount a business's revenues exceed expenses |
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| Amount a business's expenses exceed revenues |
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| Two or more owners who share the ownership of a business |
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| Organization made up of many owners called stockholders |
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| Organization that combines the benefits of a partnership and corporation |
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| Special type of "Flow Thru" corporation |
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| Type of business with one owner |
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| An entry that increases an asset or an expense or that decreases a liability, owner's equity, or income |
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| An entry that increases a liabilty, owner's equity, or revenue or that decreases an asset or expense |
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| Statement that summarizes the sources and uses of cash |
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| Method of accounting that records income in the period earned and expenses in the period incurred |
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