Istilah Akuntansi untuk Siswa Kelas 12

What is meant by assets in accounting?

• Assets are revenues generated from the sale of goods.

• Assets are expenditures that have no economic value.

• Assets are resources owned by the company that have economic value.

• Assets are obligations that must be paid by the company.

Explain the definition of liability!

• Liability is a financial obligation that must be paid by an entity.

• Liability is income generated from sales.

• Liability is profit obtained from investments.

• Liability is an asset owned by an entity.

What is owner's equity?

• Owner's equity is the total assets owned by the company.

• Owner's equity is the debt that must be paid by the owner.

• Owner's equity is the net value owned by the owner in an entity.

• Owner's equity is the total revenue generated by the entity.

What are examples of income!

• Annual bonus

• Sales commission

• Monthly salary of employees.

• Overtime pay

What is meant by costs in financial statements?

• Costs are assets owned by the company.

• Costs are the amount of money received from customers.

• Costs are the profits obtained from sales.

• Costs are expenditures incurred for the company's operations.

Explain the difference between the balance sheet and the income statement!

• The balance sheet and the income statement are the same documents.

• The balance sheet shows financial performance, while the income statement shows financial position.

• The balance sheet shows financial position, while the income statement shows financial performance.

• The balance sheet is only used for small companies, while the income statement is for large companies.

What is a journal in accounting?

• A journal is a type of financial report that is irregular.

• A journal is a tool for calculating corporate taxes.

• A journal is a record of financial transactions in accounting.

• A journal is an annual report of a company.

What is the function of the general ledger?

• To print annual financial reports.

• To determine the budget for each department.

• To calculate the taxes that must be paid.

• The function of the general ledger is to record and categorize financial transactions.

What is meant by accrual accounting?

• Accrual accounting recognizes revenue and expenses only at the end of the year.

• Accrual accounting does not take into account transactions that have not been paid.

• Accrual accounting only records transactions when cash is received.

• Accrual accounting is a recording method that recognizes revenue and expenses when they occur, not when cash is received or paid.

Explain the basic concept of depreciation!

• Depreciation is the reduction of the acquisition cost of fixed assets directly.

• Depreciation only applies to unused assets.

• Depreciation is the allocation of the acquisition cost of fixed assets over their useful life.

• Depreciation is the process of increasing the value of fixed assets.