Accounting Vocab Ch. 1-3 - 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.

1. A formal written document that describes the nature of a business and how it will operate
   Business Plan
2. An amount owed
   Liability
3. A business that performs an activity for a fee
   Service business
4. A form describing the goods or services sold, the quantity, the price, and the terms of sale
   Invoice
5. A business form ordering a bank to pay cash from a bank account
   Check
6. A business owned by one perosn
   Proprietorship
7. Assets taken from the business for the owner's personal use
   Withdrawals
8. The cost of goods or services used to operate a business
   Expense
9. An increase in equity resulting from the sale of goods or services
   Revenue
10. Amount recorded on the left side of an account
    Debit
11. The difference between personal assets and personal liabilities
    Personal Net Worth
12. An accounting device used to analyze transactions
    T-Account
13. An account used to summarize the owner's equity in a business
    Capital Account
14. A planned process designed to compile financial data and summarize the results in accounting records and reports
    Accounting System
15. The difference between assets and liabilities
    Equity
16. Any business activity that changes assets, liabilities, or owner's equity
    Transaction
17. The amount remaining after the value of all liabilities is subtracted from the value of all assets
    Owner's Equity
18. A record that summarizes all the transactions pertaining to a single item in the accounting equation
    Account
19. An accountant who combines accounting and investigating skills to uncover suspected fraudulent business activity, or to prevent such activity
    Forensic Accountant
20. Determining that the amount of cash agrees with the accounting records
    Proving Cash
21. Information for each transaction recorded in a journal
    Entry
22. An invoice used as a source document for recording a sale on account
    Sales Invoice
23. A person or business to whom a liability is owed
    Creditor
24. A form on which a brief message is written to describe a transaction
    Memorandum
25. The use of ethics in making business decisions
    Business Ethics
26. The side of an account that is increased is called the ...
    Normal Balance
27. The name given to an account
    Account Title
28. Anything of value that is owned
    Asset
29. The difference between the increases and decreases in an account
    Account Balance
30. A list of accounts used by a business
    Chart of Accounts (COA)
31. An equation showing the relationship amount assets, liabilities, and owner's equity
    Accounting Equation
32. An amount paid for the use of money for a period of time
    Interest
33. The principles of right and wrong that guide an individual in making decisions
    Ethics
34. A formal report that shows what an individual owns, what an individual owes, and the difference between the two
    Net Worth Statements
35. Amounts to be paid in the future for goods or services already acquired
    Accounts Payable
36. Financial rights to the assets of a business
    Equities
37. The process of planning, recording, analyzing, and interpreting financial information
    Accounting
38. The recording of debit and credit parts of a transaction
    Double-Entry Accounting
39. A business form giving written acknowledgment for cash received
    Receipt
40. An amount recorded on the right side of an account
    Credit
41. Generally accepted accounting principles. Th standards and rules that accountants follow while recording and reporting financial activities.
    GAAP
42. Financial reports that summarize the financial condition and operations of a business
    Financial Statements
43. a form for recording transactions in chronological order
    Journal
44. Amounts to be received in the future due to the sale of goods or services
    Accounts Receivable
45. A business paper from which information is obtained for a journal entry
    Source Document
46. A sale for which payment will be received at a later date
    Sale on Account
47. Recording transactions in a journal
    Journalizing
48. A right granted to an individual or business to sell the products or services of another, larger business within a defined geographical area
    Franchise
49. Interest paid on an original amount deposited in a bank plus any interest that has been paid
    Compound Interest