Basic Accounting Terms

Basic Accounting Terms

Assessment

Flashcard

Business

9th Grade

Practice Problem

Hard

Created by

Helen Clarke

FREE Resource

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29 questions

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1.

FLASHCARD QUESTION

Front

Accounting

Back

The communication of Financial Information so that users can make informed decisions.

2.

FLASHCARD QUESTION

Front

Income

Back

Money received from employment, investments, or interest.

3.

FLASHCARD QUESTION

Front

Expenses

Back

What a business pays in the day-to-day running of the business.

4.

FLASHCARD QUESTION

Front

Essential

Back

Spending on items that are absolutely necessary - Needs.

5.

FLASHCARD QUESTION

Front

Non-Essential

Back

Spending on items that are not necessary - Wants.

6.

FLASHCARD QUESTION

Front

Saving

Back

An amount of money that is not spent and set aside for the future.

7.

FLASHCARD QUESTION

Front

Surplus

Back

When income is greater than expenses.

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