Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Business Banagher

Bookkeeping Keywords

QuestionAnswer
transaction An agreement between two people to carry out a business activity
ledger It records all the business' transactions.
Accounts A ledger is divided into accounts.
debit side We use the Debit side to record that the account is receiving.
credit side We use the Credit side to record that the account is giving.
Assets They are things of value that the business owns.
Fixed Assets These stay in the business for longer than one year, eg land, premises, machinery or motor vehicles
Current Assets These are asset which usually change in their value during the year, stock, bank or debtors.
Liabilities These are things that the business owes.
Current Liabilities These are bills owed by the firm that must be paid within one year and usually a lot sooner eg ESB and creditors
Long Term Liabilities Money owed by the firm that must be paid back over a long period of time eg 20 year loan
Expenses Bills the business must pay to cover the day to day costs of runing the busiess eg wages
Gains Any income received by the firm other than that from normal sales eg rent received
Trial Balance Is is a list of balances brought down from the accounts,the debit column should equal the credit column.
Created by: Banagher13
Popular Accounting sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards