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