The namegiven toanaccount.A person orbusiness towhom aliability isowed.A formal report thatshows what anindividual owns,what an individualowes, and thedifference betweenthe two.Thedifferencebetweenassets andliabilities.A businessthat performsan activity fora fee.A planned processfor providingfinancialinformation thatwill be useful tomanagement.Anamountowed by abusiness.Financial reportsthat summarizethe financialconditions andoperations of abusiness.Planning,recording,analyzing, andinterpretingfinancialinformation.An equationshowing therelationshipamong assets,liabilities, andowner's equity.A businessowned byoneperson.Anythingof valuethat isowed.A businessactivity thatchangesassets,liabilities andowner's equity.A recordsummarizing allthe informationpertaining to asingle item in theaccountingequationA decrease inowner's equityresulting fromthe operationof a business.Theamount inanaccount.The standardsand rules thataccountants followwhile recordingand reportingfinancial activities.The accountused tosummarize theowner's equityin the business.The principles ofright and wrongthat guide anindividual inmaking decisions.A sale forwhich cashwill bereceived at alater date.A formal writtendocument thatdescribes thenature of abusiness and howit will operate.Financialrights to theassets of abusiness.The differencebetweenpersonal assetsand personalliabilities.The amountremaining afterthe value of allliabilities issubtracted fromthe value of theassets.The namegiven toanaccount.A person orbusiness towhom aliability isowed.A formal report thatshows what anindividual owns,what an individualowes, and thedifference betweenthe two.Thedifferencebetweenassets andliabilities.A businessthat performsan activity fora fee.A planned processfor providingfinancialinformation thatwill be useful tomanagement.Anamountowed by abusiness.Financial reportsthat summarizethe financialconditions andoperations of abusiness.Planning,recording,analyzing, andinterpretingfinancialinformation.An equationshowing therelationshipamong assets,liabilities, andowner's equity.A businessowned byoneperson.Anythingof valuethat isowed.A businessactivity thatchangesassets,liabilities andowner's equity.A recordsummarizing allthe informationpertaining to asingle item in theaccountingequationA decrease inowner's equityresulting fromthe operationof a business.Theamount inanaccount.The standardsand rules thataccountants followwhile recordingand reportingfinancial activities.The accountused tosummarize theowner's equityin the business.The principles ofright and wrongthat guide anindividual inmaking decisions.A sale forwhich cashwill bereceived at alater date.A formal writtendocument thatdescribes thenature of abusiness and howit will operate.Financialrights to theassets of abusiness.The differencebetweenpersonal assetsand personalliabilities.The amountremaining afterthe value of allliabilities issubtracted fromthe value of theassets.

Chapter 1 accounting (definitions) - Call List

(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.


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  1. The name given to an account.
  2. A person or business to whom a liability is owed.
  3. A formal report that shows what an individual owns, what an individual owes, and the difference between the two.
  4. The difference between assets and liabilities.
  5. A business that performs an activity for a fee.
  6. A planned process for providing financial information that will be useful to management.
  7. An amount owed by a business.
  8. Financial reports that summarize the financial conditions and operations of a business.
  9. Planning, recording, analyzing, and interpreting financial information.
  10. An equation showing the relationship among assets, liabilities, and owner's equity.
  11. A business owned by one person.
  12. Anything of value that is owed.
  13. A business activity that changes assets, liabilities and owner's equity.
  14. A record summarizing all the information pertaining to a single item in the accounting equation
  15. A decrease in owner's equity resulting from the operation of a business.
  16. The amount in an account.
  17. The standards and rules that accountants follow while recording and reporting financial activities.
  18. The account used to summarize the owner's equity in the business.
  19. The principles of right and wrong that guide an individual in making decisions.
  20. A sale for which cash will be received at a later date.
  21. A formal written document that describes the nature of a business and how it will operate.
  22. Financial rights to the assets of a business.
  23. The difference between personal assets and personal liabilities.
  24. The amount remaining after the value of all liabilities is subtracted from the value of the assets.