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