The Accounting Equation

Asset accounts include all of the following EXCEPT__________

Any event or activity that can be measured in terms of money is _________________

Assets, Expenses, and Dividends have a normal balance of?

Liabilities, Revenues, and Equity have a normal balance of ?  

The accounting equation is:  assets = liabilities + equity

Which of the following is a Liability Account?

The value of a company to its owner(s) is _______________

Debits and Credits are a system of ___________used to record transactions

Every transaction relates to an account

obligations of the business to transfer something of value to another party

In the double- entry method, each transaction must change two accounts

Contributions, Revenue, and Expenses are all part of what account?

an item of value owned by a company is _________________