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Intro to Accounting (Wk2)

Horizontales
Sarbanes-Oxley Act
A business owned by one individual.
The amount by which expenses exceed revenue.
Branch of accounting concerned with recording transactions for a business.
Field of accounting where accountants and staff provide services on a fee basis.
Field of accounting whereby accountants are employed by a business.
An unincorporated business form consisting of two or more persons.
Verticales
Principle of accounting in which expenses are matched with the revenue generated during the specified period incurred.
Business organized under state or federal statutes as a separate legal entity.
Branch of accounting that uses historical and estimated data to provide information that management uses to conduct daily operations.
Assets = Liabilities + Owners Equity
International Accounting Standards Board
Business form consisting of one or more persons or entities filing an operating agreement with a state to conduct business wit limited liability to owners
The amount by which revenue exceeds expenses.