Accounting 1 - Chapter 1 & 2 Vocab

Accounting 1 - Chapter 1 & 2 Vocab

Assessment

Flashcard

Life Skills

10th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

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14 questions

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1.

FLASHCARD QUESTION

Front

An organization that operates for purposes other than profit

Back

not-for-profit organization

2.

FLASHCARD QUESTION

Front

Business providing various accounting services, including independent audits.

Back

public accounting firm

3.

FLASHCARD QUESTION

Front

Review of a company's accounting systems and financial statements for compliance with GAAP

Back

audit

4.

FLASHCARD QUESTION

Front

An accountant who has met education and experience requirements and passed a national test.

Back

Certified Public Accountant (CPA)

5.

FLASHCARD QUESTION

Front

Collects, documents, and reports on financial transactions affecting a business.

Back

accounting system

6.

FLASHCARD QUESTION

Front

Accounting info processed by hand

Back

manual accounting system

7.

FLASHCARD QUESTION

Front

Accounting info processed by recording into a computer

Back

computerized accounting system

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