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

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