Select the one term that best fits each definition.
-The account used to summarize the owner's equity in the business.
A) account
B) account balance
C) account title
D) accounting
E) accounting equation
F) accounting system
G) asset
H) business ethics
I) business plan
J) capital account
K) creditor
L) equities
M) equity
N) expense
O) financial statements
P) GAAP
Q) liability
R) net worth statement
S) owner's equity
T) personal net worth
U) proprietorship
V) revenue
W) sale on account
X) service business
Y) transaction
Z) withdrawals
Correct Answer:
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