package deal of ACC.

Sole Proprietorship - correct answer a business owned by one person. The business is a separate entity for accounting purposes. However, a proprietorship is not a separate legal entity from its owner. Partnership - correct answer a business owned by two or more people, cal...

Financial Statements Required by GAAP - correct answer -Balance Sheet -Income Statement -Statement of Cash Flows -Statement of Changes in Stock Equity Who is the audience of Financial Accounting? - correct answer Focuses on the needs of external users -Investors -Cre...

financial statements - correct answer documents that report on a business in monetary terms, providing information to help people make informed business decisions GAAP - correct answer rules that govern accounting in the US generally accepted accounting principles - cor...

financial accounting - correct answer providing information for external decision makers managerial accounting - correct answer providing information for internal decision makers creditor - correct answer any person or business to whom a business owes money ...

Accounting Equation - correct answer Assets= Liabilities + stockholder's equity Assets - correct answer Resources owned by company Liabilities - correct answer Rights of the creditors or amounts owed to creditors Equity - correct answer Right...

Accounting - correct answer is a system that identifies, records, and communicates information that is relevant, reliable, and comparable about an organization's business activities. Internal Users of Info - correct answer use info to help businesses decide what they can ...

accounting equation - correct answer assets = liabilities + owner's equity transaction analysis - correct answer summary of all transactions owner's equity - correct answer common stock and retained earnings temporary accounts - correct answer ...

accounting - correct answer The process of identifying, measuring, and communicating economic information to permit users to make informed judgments and decisions accounting systems - correct answer The branch of accounting that covers the review of a firm's entire info...

Planning, recording, analyzing, and interpreting financial information - correct answer Accounting An equation showing the relationship among assets, liabilities, and owner's equity - correct answer Accounting Equation Accounting Equation - correct answer ...