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IDS 102 Chapter 4 Review

Teacher: Teresa Wisvari
Horizontales
Any person to whom a business owes money
The field of accounting that focuses on providing information for external decision makers
Debts that are owed to creditors
Shows the changes in the owner's capital account for a specific period
Economic resources that are expected to benefit the business in the future
Short-term liability that will be paid in the future
Verticales
Any event that affects the financial position of a business such as a sale
Field of accounting that focuses on providing information for internal decision makers
Receive cash in the future from customers for goods sold or services performed
Principle that states that acquired assets and services should be recorded at their actual cost
Report on assets, liabilities, and owner's equity of the business as of a specific date
Business with a single owner
Person or group who provides money to start a business
An examination of a company's financial statements and records