Chapter 17 Review Outline
Directions – Complete the follows questions/prompts based on your knowledge of
the content from this chapter. Use this a guide to help you prepare for the test. You
will need to expand beyond this handout for full test preparation. This outline will
be collected before the test on Wednesday, April 6th.
You should be able to define and apply each of the vocabulary terms:
Financial Plan -
Liabilities -
Capital -
Accounts payable -
Financial Forecast -
Owner’s Equity -
Budget -
Accounting Equation -
Accounting -
Financial Statements -
GAAP -
Income Statement -
Property -
Balance Sheet -
Assets -
Statement of Cash Flows –
Current Assets Accounts Receivable Fix Assets Equity -