MemorandumA form onwhich a briefmessage iswritten todescribe atransactionAccountsPayableAmounts to bepaid in the futurefor goods orservices alreadyacquiredFinancialStatementsFinancial reportsthat summarizethe financialcondition andoperations of abusiness Sale onAccountA sale forwhichpayment willbe receivedat a later dateExpenseThe cost ofgoods orservices usedto operate abusinessCapitalAccountAn accountused tosummarize theowner's equityin a businessAccountingSystemA planned processdesigned to compilefinancial data andsummarize theresults in accountingrecords and reportsLiabilityAnamountowedServicebusinessA businessthatperforms anactivity for afeeBusinessPlanA formal writtendocument thatdescribes thenature of abusiness and howit will operateJournala form forrecordingtransactions inchronologicalorderNet WorthStatementsA formal report thatshows what anindividual owns,what an individualowes, and thedifference betweenthe twoRevenueAn increase inequity resultingfrom the sale ofgoods orservicesDouble-EntryAccountingTherecording ofdebit andcredit parts ofa transactionWithdrawalsAssets takenfrom thebusiness forthe owner'spersonal useEntryInformationfor eachtransactionrecorded in ajournalAccountBalanceThe differencebetween theincreases anddecreases inan accountAccountTitleThe namegiven toanaccountOwner'sEquityThe amountremaining after thevalue of allliabilities issubtracted fromthe value of allassetsNormalBalanceThe side ofan accountthat isincreased iscalled the ...DebitAmountrecorded onthe left sideof anaccountProvingCashDetermining thatthe amount ofcash agreeswith theaccountingrecordsCheckA businessform orderinga bank to paycash from abank accountChart ofAccounts(COA)A list ofaccountsused by abusinessInterestAn amountpaid for theuse of moneyfor a periodof timeTransactionAny businessactivity thatchanges assets,liabilities, orowner's equityAccountingThe process ofplanning,recording,analyzing, andinterpretingfinancialinformationCreditorA person orbusiness towhom aliability isowedEquityThedifferencebetweenassets andliabilitiesReceiptA business formgiving writtenacknowledgmentfor cashreceivedT-AccountAnaccountingdevice usedto analyzetransactionsAccountA record thatsummarizes all thetransactionspertaining to asingle item in theaccountingequationAssetAnythingof valuethat isownedInvoiceA form describingthe goods orservices sold, thequantity, the price,and the terms ofsaleCompoundInterestInterest paid on anoriginal amountdeposited in abank plus anyinterest that hasbeen paidFranchiseA right granted to anindividual or businessto sell the products orservices of another,larger business withina definedgeographical areaSalesInvoiceAn invoice usedas a sourcedocument forrecording a saleon accountBusinessEthicsThe use ofethics inmakingbusinessdecisionsEthicsThe principles ofright and wrongthat guide anindividual inmaking decisionsForensicAccountantAn accountant whocombines accountingand investigatingskills to uncoversuspected fraudulentbusiness activity, orto prevent suchactivityPersonalNetWorthThe differencebetweenpersonal assetsand personalliabilitiesAccountsReceivableAmounts to bereceived in thefuture due tothe sale ofgoods orservicesAccountingEquationAn equationshowing therelationshipamount assets,liabilities, andowner's equityProprietorshipA businessowned byoneperosnJournalizingRecordingtransactionsin a journalCreditAn amountrecorded onthe right sideof anaccountEquitiesFinancialrights to theassets of abusinessGAAPGenerally acceptedaccounting principles.Th standards andrules thataccountants followwhile recording andreporting financialactivities.SourceDocumentA businesspaper fromwhichinformation isobtained for ajournal entryMemorandumA form onwhich a briefmessage iswritten todescribe atransactionAccountsPayableAmounts to bepaid in the futurefor goods orservices alreadyacquiredFinancialStatementsFinancial reportsthat summarizethe financialcondition andoperations of abusinessSale onAccountA sale forwhichpayment willbe receivedat a later dateExpenseThe cost ofgoods orservices usedto operate abusinessCapitalAccountAn accountused tosummarize theowner's equityin a businessAccountingSystemA planned processdesigned to compilefinancial data andsummarize theresults in accountingrecords and reportsLiabilityAnamountowedServicebusinessA businessthatperforms anactivity for afeeBusinessPlanA formal writtendocument thatdescribes thenature of abusiness and howit will operateJournala form forrecordingtransactions inchronologicalorderNet WorthStatementsA formal report thatshows what anindividual owns,what an individualowes, and thedifference betweenthe twoRevenueAn increase inequity resultingfrom the sale ofgoods orservicesDouble-EntryAccountingTherecording ofdebit andcredit parts ofa transactionWithdrawalsAssets takenfrom thebusiness forthe owner'spersonal useEntryInformationfor eachtransactionrecorded in ajournalAccountBalanceThe differencebetween theincreases anddecreases inan accountAccountTitleThe namegiven toanaccountOwner'sEquityThe amountremaining after thevalue of allliabilities issubtracted fromthe value of allassetsNormalBalanceThe side ofan accountthat isincreased iscalled the ...DebitAmountrecorded onthe left sideof anaccountProvingCashDetermining thatthe amount ofcash agreeswith theaccountingrecordsCheckA businessform orderinga bank to paycash from abank accountChart ofAccounts(COA)A list ofaccountsused by abusinessInterestAn amountpaid for theuse of moneyfor a periodof timeTransactionAny businessactivity thatchanges assets,liabilities, orowner's equityAccountingThe process ofplanning,recording,analyzing, andinterpretingfinancialinformationCreditorA person orbusiness towhom aliability isowedEquityThedifferencebetweenassets andliabilitiesReceiptA business formgiving writtenacknowledgmentfor cashreceivedT-AccountAnaccountingdevice usedto analyzetransactionsAccountA record thatsummarizes all thetransactionspertaining to asingle item in theaccountingequationAssetAnythingof valuethat isownedInvoiceA form describingthe goods orservices sold, thequantity, the price,and the terms ofsaleCompoundInterestInterest paid on anoriginal amountdeposited in abank plus anyinterest that hasbeen paidFranchiseA right granted to anindividual or businessto sell the products orservices of another,larger business withina definedgeographical areaSalesInvoiceAn invoice usedas a sourcedocument forrecording a saleon accountBusinessEthicsThe use ofethics inmakingbusinessdecisionsEthicsThe principles ofright and wrongthat guide anindividual inmaking decisionsForensicAccountantAn accountant whocombines accountingand investigatingskills to uncoversuspected fraudulentbusiness activity, orto prevent suchactivityPersonalNetWorthThe differencebetweenpersonal assetsand personalliabilitiesAccountsReceivableAmounts to bereceived in thefuture due tothe sale ofgoods orservicesAccountingEquationAn equationshowing therelationshipamount assets,liabilities, andowner's equityProprietorshipA businessowned byoneperosnJournalizingRecordingtransactionsin a journalCreditAn amountrecorded onthe right sideof anaccountEquitiesFinancialrights to theassets of abusinessGAAPGenerally acceptedaccounting principles.Th standards andrules thataccountants followwhile recording andreporting financialactivities.SourceDocumentA businesspaper fromwhichinformation isobtained for ajournal entry

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
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
  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