Accounting provides information for employees within a business but not for those outside of a business.

Assets represent amounts owed to entities outside of the business.

Notes Payable is a liability account.

Accounts Payable is an asset account.

The Nathaniel H. Spencer, Capital account represents amounts withdrawn from a business by the owner.

With double-entry bookkeeping, at least two accounts are impacted by every transaction.

All transactions must involve at least three accounts.

The sale of services to a customer on account increases the Service Revenue and the Accounts Receivable accounts.

The accounting equation must be in balance after every transaction.

Recording transactions allows a company to maintain a running balance for each account.

Which account is NOT an owner’s equity account?

Identify the action that is NOT a transaction.

What two accounts are impacted when a business purchases pens and pencils on account?

What is something a bookkeeper is NOT typically responsible for, per the U.S. Bureau of Labor Statistics?

What is confidentiality?

Identify the asset account.

Which of these is NOT a liability account?

Which of these is NOT an equity account?

What account represents the portion of common stock a company has repurchased and that is therefore not presently in the hands of investors?