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