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

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