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Accounting In Action Vocab. 1

Lesson 1-1 Vocabulary Review
Horizontales
Process designed to compile financial data and summarize the results
Process of planning, recording, analyzing
What an individual owes
Any of value that is owned
The principles of right and wrong
Verticales
Summarize the financial condition and operations of a business
An amount owed
The use of ethics in making business decisions
Difference between assets and liabilities