WorksheetsAccounting Vocab Review
Total questions: 11
Worksheet time: 6mins
All the vocab in this QUIZIZZ are in your study guide AND will be on your accounting assessment! What day is the Accounting assessment?
Tomorrow
Wednesday
Friday
Next Block Day
Planning, recording, analyzing, interpreting financial information is
Accounting
Transactions
Accounts
Sale on account
Anything of value owned by a business
Asset
Liability
Owner's Equity
Accounts Receivable
An amount owed by a business
Asset
Liability
Owner's Equity
Accounts Payable
A transaction is
A business activity that changes assets, liabilities, or owner's equity
A record summarizing all the information pertaining to a single item in the accounting equation
A sale for which cash will be received at a later date
Planning, recording analyzing, and interpreting financial information
The account used to summarize all the owner's equity in a business
Liability
Asset
Accounts Receivable
Capital
A portion of the business that can be claimed by the owner(s).
Owner's Equity
Accounts Payable
Capital
Transaction
Revenue is
An increase in owner's equity resulting from the operation of a business
An decrease in owner's equity resulting from the operation of a business
A sale in which cash will be received at a later date
A payment where cash will be paid at a later date
A sale for which cash will be received at a later date
Sale on account
Purchase on account
Accounts Payable
Revenue
An expense is
A decrease in owner's equity resulting from the operation of a business
When the owner is taking money out of their business for personal use
An increase in owner's equity resulting from the operation of a business
A sale for which cash will cash will be received at a later date
Assets taken out of a business for the owner's personal use
Liability
Investment
Expense
Withdrawal
