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