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

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