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the systematic process of recording and reporting the Financial position of a person or an organization
Which of these is not one of the three financial statements
statement of cash flows
fixed assets are held for more than a year
anything of value that is owned or controlled.
What financial statement includes the accounting equation?
Statement of cash flows
What is a review of accounting records and procedures?
What is the generally accepted accounting principles(GAAP)?
The total amount of money owned to a business
Set of accounting rules used by accountants to prepare reports
An owner's claim to the assets of a business
Creditors' claims to the assets of a business
accounting is called...
"the business functions"
"center of business"
"the language of business"
property&other items of value owned by a business
total amount of money owed to a business
Is accounting required for a business
creditors claims to the assets of a business
what is the accounting equation?
an owners claim to the assets of a business
which is not a financial statement
cash flow statement
rule that states that assets must always equal the sum of liabilities and owners equity
cash flow statement
report that shows incoming&outgoing money during an accounting period
cash flows statement
when revenue is greater than expenses
net loss occurs when
what is a financial plan?
a set of financial documents
a set of documents that a accountant uses
a set of documents that mrs. Beale wrote
a short description of your business
What is capital
Money supplied by investors, and banks
Money supplied by owner or owners of the business
Money from family members
Money from trees
What is a financial forecast
An estimate of how the business will be doing in the next few years
a estimate of your stock
an estimate of your loan interest
a estimate of your taxes
Which of the following is not measured by property?
what is not an example of a liability
What is equity
Present value of an asset less all claims against it
creditors claim to the assets of the business
total amount of the money owed to a business