Flashcards
QBO Chapter 2
Cards in this deck (10)
- 1Subaccountsare subcategories of an account
- 2Balance Sheetsummarizes what a company owns and owes on a particular date
- 3Profit and Loss Statementsummarizes the income a company has earned and the expenses the incurred
- 4Statement of Cash Flowsummarizes cash inflows and outflows for operating, investing, and financing activities of a business
- 5Assetsa resource a company owns
- 6Liabilitiesare amounts a company owes
- 7Equity Accountsrepresents the net worth of a company
- 8Income Accountsrecord sales to customers and other revenues earned by the company
- 9Expense Accountsrecord costs that have expired or been consumed in the process of generating income
- 10—
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- Flashcards on QBO Chapter 2, created by Murranda Lindgren on 23/10/2023.
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- Murranda Lindgren
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