DECA Finance Test Review Questions and Answers 100% Solved
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Course
DECA
Institution
DECA
DECA Finance Test Review Questions
and Answers 100% Solved
Accountant - an individual who has had specialized training in
accounting procedures
Accounting - The process of keeping and interpreting
financial records
Accounting department - a special department responsible for the firm's
accou...
Financial statement - ✔✔A summary of accounting information
Fixed assets - ✔✔items of value a business owns that are not expected to
change (buildings)
Income - ✔✔money received by a business or an individual from outside
sources for supplying goods and services to customers
Income statement - ✔✔A financial summary that shows how much money
the business has made or has lost; also called the profit-and-loss statement
Investors - ✔✔those who invest their funds in a business, may be owners
or stockholders
Journal - ✔✔a special book or computer program in which a business's
transactions are recorded in the order in which they occur
Ledger - ✔✔the accounting record for a specific department or area of the
business
Liabilities - ✔✔debts that the business owes
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