Flashcards
Chapter 1 - Accounting in Action
Cards in this deck (5)
- 1AccountingThe information system that identifies, records, and communicates the economic events of an organization to interested users
- 2AssetsResources of a business owner
- 3Balance sheetA financial statement that reports the assets, liabilities, and stockholder's equity of a company at a specific date
- 4Basic Accounting EquationAssets = Liabilities + Stockholder's Equity
- 5BookkeepingA part of accounting that involves only the recording of economic events
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- Undergraduate Financial Accounting Flashcards on Chapter 1 - Accounting in Action, created by Yagnesh on 18/12/2014.
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- Yagnesh
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