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