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WorksheetsMaking a career in accounting.
Total questions: 10
Worksheet time: 20mins
balance sheet
a document which summarizes the assets, liabilities and equity of a business entity at a given time
a statement of all debits and credits in the double-entry account book, with any discrepancies shown
Trial balance
a statement of all debits and credits in the double-entry account book, with any discrepancies shown
an entry showing an amount owed (due to be paid by the company), entered on the left hand side
debit
an entry showing the amount of money paid (or owed) to the company, entered on the right hand side
an entry showing an amount owed (due to be paid by the company), entered on the left hand side
deferral
reasonable actions taken by a person to satisfy a law or regulation.
he state for postponing the recognition of an asset or liability until a future time.
Reasonable actions taken by a person to satisfy a law or regulation
due diligence
trial balance
A statement of all debits and credits in the double-entry account book, with any discrepancies shown
Deferral
Trial balance
CPA
Certified Public Assistant
Certified Public Accountant
To ensure that two figures agree with each other
Reconcile
record
A business which is owned and run by one person.
Sole-trader
chief financial office
A business entity where the debts of the company are separate from the debts of the share-holder
CFO (chief financial officer)
LLC (limited liability company)
