Homework Help is Here – Start Your Trial Now!
Business
Accounting
Directions: Using terms from the following list, complete the sentences below. Write the letter of the term you have chosen in the space provided. A. accounting system B. business entity C. capital D. corporation E. entrepreneur E. financial accounting K. management G. accounting period н. GAAP L going concern J. loss N. partnership O. profit accounting L. manufacturing P. service business business Q. sole proprietorship M. merchandising business 0. A(n) 1. The time period covered by an accounting report is called 2. An)- 3. Money invested in a business by an owner is called . 4. The amount of money earned over and above the amount spent to keep a business operating is called- 5. Businesses that spend more than they receive operate at a 6. Ain) is concerned with the process of recording and reporting financial information. 7. A(n) is willing to take the risks of running a business. 8.- external users. has one owner. has at least two owners. is a type of accounting that focuses on reporting information to 9. Generally Accepted Accounting Principles refers to - 10. Accounting for internal users of accounting information is called . 11. A(n) 12. A business expected to operate indefinitely is called a(n). 13. A business that buys finished products and then sells them is called afn). 14. A business that transforms raw material into products is called ain) . 15. A business organization that is recognized by law to have a life of its own is called a(n) 16. A business organized to operate by providing professional services for a feeis called atn) -exists independently of its owner's personal holdings.

Directions: Using terms from the following list, complete the sentences below. Write the letter of the term you have chosen in the space provided. A. accounting system B. business entity C. capital D. corporation E. entrepreneur E. financial accounting K. management G. accounting period н. GAAP L going concern J. loss N. partnership O. profit accounting L. manufacturing P. service business business Q. sole proprietorship M. merchandising business 0. A(n) 1. The time period covered by an accounting report is called 2. An)- 3. Money invested in a business by an owner is called . 4. The amount of money earned over and above the amount spent to keep a business operating is called- 5. Businesses that spend more than they receive operate at a 6. Ain) is concerned with the process of recording and reporting financial information. 7. A(n) is willing to take the risks of running a business. 8.- external users. has one owner. has at least two owners. is a type of accounting that focuses on reporting information to 9. Generally Accepted Accounting Principles refers to - 10. Accounting for internal users of accounting information is called . 11. A(n) 12. A business expected to operate indefinitely is called a(n). 13. A business that buys finished products and then sells them is called afn). 14. A business that transforms raw material into products is called ain) . 15. A business organization that is recognized by law to have a life of its own is called a(n) 16. A business organized to operate by providing professional services for a feeis called atn) -exists independently of its owner's personal holdings.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Directions: Using terms from the following list, complete the sentences below. Write the letter of the term you have chosen in the space provided. A. accounting system B. business entity C. capital D. corporation E. entrepreneur E. financial accounting K. management G. accounting period н. GAAP L going concern J. loss N. partnership O. profit accounting L. manufacturing P. service business business Q. sole proprietorship M. merchandising business 0. A(n) 1. The time period covered by an accounting report is called 2. An)- 3. Money invested in a business by an owner is called . 4. The amount of money earned over and above the amount spent to keep a business operating is called- 5. Businesses that spend more than they receive operate at a 6. Ain) is concerned with the process of recording and reporting financial information. 7. A(n) is willing to take the risks of running a business. 8.- external users. has one owner. has at least two owners. is a type of accounting that focuses on reporting information to 9. Generally Accepted Accounting Principles refers to - 10. Accounting for internal users of accounting information is called . 11. A(n) 12. A business expected to operate indefinitely is called a(n). 13. A business that buys finished products and then sells them is called afn). 14. A business that transforms raw material into products is called ain) . 15. A business organization that is recognized by law to have a life of its own is called a(n) 16. A business organized to operate by providing professional services for a feeis called atn) -exists independently of its owner's personal holdings.
Transcribed Image Text:Directions: Using terms from the following list, complete the sentences below. Write the letter of the term you have chosen in the space provided. A. accounting system B. business entity C. capital D. corporation E. entrepreneur E. financial accounting K. management G. accounting period н. GAAP L going concern J. loss N. partnership O. profit accounting L. manufacturing P. service business business Q. sole proprietorship M. merchandising business 0. A(n) 1. The time period covered by an accounting report is called 2. An)- 3. Money invested in a business by an owner is called . 4. The amount of money earned over and above the amount spent to keep a business operating is called- 5. Businesses that spend more than they receive operate at a 6. Ain) is concerned with the process of recording and reporting financial information. 7. A(n) is willing to take the risks of running a business. 8.- external users. has one owner. has at least two owners. is a type of accounting that focuses on reporting information to 9. Generally Accepted Accounting Principles refers to - 10. Accounting for internal users of accounting information is called . 11. A(n) 12. A business expected to operate indefinitely is called a(n). 13. A business that buys finished products and then sells them is called afn). 14. A business that transforms raw material into products is called ain) . 15. A business organization that is recognized by law to have a life of its own is called a(n) 16. A business organized to operate by providing professional services for a feeis called atn) -exists independently of its owner's personal holdings.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS