AccountsReceivableAmounts to bereceived in thefuture due tothe sale ofgoods orservicesJournala form forrecordingtransactions inchronologicalorderGAAPGenerally acceptedaccounting principles.Th standards andrules thataccountants followwhile recording andreporting financialactivities.AccountsPayableAmounts to bepaid in the futurefor goods orservices alreadyacquiredProprietorshipA businessowned byoneperosnAssetAnythingof valuethat isowned Sale onAccountA sale forwhichpayment willbe receivedat a later dateDebitAmountrecorded onthe left sideof anaccountInvoiceA form describingthe goods orservices sold, thequantity, the price,and the terms ofsaleCreditAn amountrecorded onthe right sideof anaccountCapitalAccountAn accountused tosummarize theowner's equityin a businessForensicAccountantAn accountant whocombines accountingand investigatingskills to uncoversuspected fraudulentbusiness activity, orto prevent suchactivityLiabilityAnamountowedAccountA record thatsummarizes all thetransactionspertaining to asingle item in theaccountingequationWithdrawalsAssets takenfrom thebusiness forthe owner'spersonal useEthicsThe principles ofright and wrongthat guide anindividual inmaking decisionsAccountingSystemA planned processdesigned to compilefinancial data andsummarize theresults in accountingrecords and reportsInterestAn amountpaid for theuse of moneyfor a periodof timePersonalNetWorthThe differencebetweenpersonal assetsand personalliabilitiesRevenueAn increase inequity resultingfrom the sale ofgoods orservicesAccountBalanceThe differencebetween theincreases anddecreases inan accountNormalBalanceThe side ofan accountthat isincreased iscalled the ...ExpenseThe cost ofgoods orservices usedto operate abusinessAccountingEquationAn equationshowing therelationshipamount assets,liabilities, andowner's equityCreditorA person orbusiness towhom aliability isowedFinancialStatementsFinancial reportsthat summarizethe financialcondition andoperations of abusinessOwner'sEquityThe amountremaining after thevalue of allliabilities issubtracted fromthe value of allassetsReceiptA business formgiving writtenacknowledgmentfor cashreceivedCheckA businessform orderinga bank to paycash from abank accountFranchiseA right granted to anindividual or businessto sell the products orservices of another,larger business withina definedgeographical areaServicebusinessA businessthatperforms anactivity for afeeJournalizingRecordingtransactionsin a journalBusinessPlanA formal writtendocument thatdescribes thenature of abusiness and howit will operateTransactionAny businessactivity thatchanges assets,liabilities, orowner's equityAccountingThe process ofplanning,recording,analyzing, andinterpretingfinancialinformationProvingCashDetermining thatthe amount ofcash agreeswith theaccountingrecordsBusinessEthicsThe use ofethics inmakingbusinessdecisionsEntryInformationfor eachtransactionrecorded in ajournalAccountTitleThe namegiven toanaccountMemorandumA form onwhich a briefmessage iswritten todescribe atransactionSourceDocumentA businesspaper fromwhichinformation isobtained for ajournal entryT-AccountAnaccountingdevice usedto analyzetransactionsEquitiesFinancialrights to theassets of abusinessChart ofAccounts(COA)A list ofaccountsused by abusinessSalesInvoiceAn invoice usedas a sourcedocument forrecording a saleon accountNet WorthStatementsA formal report thatshows what anindividual owns,what an individualowes, and thedifference betweenthe twoDouble-EntryAccountingTherecording ofdebit andcredit parts ofa transactionCompoundInterestInterest paid on anoriginal amountdeposited in abank plus anyinterest that hasbeen paidEquityThedifferencebetweenassets andliabilitiesAccountsReceivableAmounts to bereceived in thefuture due tothe sale ofgoods orservicesJournala form forrecordingtransactions inchronologicalorderGAAPGenerally acceptedaccounting principles.Th standards andrules thataccountants followwhile recording andreporting financialactivities.AccountsPayableAmounts to bepaid in the futurefor goods orservices alreadyacquiredProprietorshipA businessowned byoneperosnAssetAnythingof valuethat isownedSale onAccountA sale forwhichpayment willbe receivedat a later dateDebitAmountrecorded onthe left sideof anaccountInvoiceA form describingthe goods orservices sold, thequantity, the price,and the terms ofsaleCreditAn amountrecorded onthe right sideof anaccountCapitalAccountAn accountused tosummarize theowner's equityin a businessForensicAccountantAn accountant whocombines accountingand investigatingskills to uncoversuspected fraudulentbusiness activity, orto prevent suchactivityLiabilityAnamountowedAccountA record thatsummarizes all thetransactionspertaining to asingle item in theaccountingequationWithdrawalsAssets takenfrom thebusiness forthe owner'spersonal useEthicsThe principles ofright and wrongthat guide anindividual inmaking decisionsAccountingSystemA planned processdesigned to compilefinancial data andsummarize theresults in accountingrecords and reportsInterestAn amountpaid for theuse of moneyfor a periodof timePersonalNetWorthThe differencebetweenpersonal assetsand personalliabilitiesRevenueAn increase inequity resultingfrom the sale ofgoods orservicesAccountBalanceThe differencebetween theincreases anddecreases inan accountNormalBalanceThe side ofan accountthat isincreased iscalled the ...ExpenseThe cost ofgoods orservices usedto operate abusinessAccountingEquationAn equationshowing therelationshipamount assets,liabilities, andowner's equityCreditorA person orbusiness towhom aliability isowedFinancialStatementsFinancial reportsthat summarizethe financialcondition andoperations of abusinessOwner'sEquityThe amountremaining after thevalue of allliabilities issubtracted fromthe value of allassetsReceiptA business formgiving writtenacknowledgmentfor cashreceivedCheckA businessform orderinga bank to paycash from abank accountFranchiseA right granted to anindividual or businessto sell the products orservices of another,larger business withina definedgeographical areaServicebusinessA businessthatperforms anactivity for afeeJournalizingRecordingtransactionsin a journalBusinessPlanA formal writtendocument thatdescribes thenature of abusiness and howit will operateTransactionAny businessactivity thatchanges assets,liabilities, orowner's equityAccountingThe process ofplanning,recording,analyzing, andinterpretingfinancialinformationProvingCashDetermining thatthe amount ofcash agreeswith theaccountingrecordsBusinessEthicsThe use ofethics inmakingbusinessdecisionsEntryInformationfor eachtransactionrecorded in ajournalAccountTitleThe namegiven toanaccountMemorandumA form onwhich a briefmessage iswritten todescribe atransactionSourceDocumentA businesspaper fromwhichinformation isobtained for ajournal entryT-AccountAnaccountingdevice usedto analyzetransactionsEquitiesFinancialrights to theassets of abusinessChart ofAccounts(COA)A list ofaccountsused by abusinessSalesInvoiceAn invoice usedas a sourcedocument forrecording a saleon accountNet WorthStatementsA formal report thatshows what anindividual owns,what an individualowes, and thedifference betweenthe twoDouble-EntryAccountingTherecording ofdebit andcredit parts ofa transactionCompoundInterestInterest paid on anoriginal amountdeposited in abank plus anyinterest that hasbeen paidEquityThedifferencebetweenassets andliabilities

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.


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