Accounting Terms Chapter 1 Version 9
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| The type of business that performs a business activity for a fee. Offers a non-tangible product. | show 🗑
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| A business that is owned by one person. | show 🗑
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| Something of Value | show 🗑
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| Classification of the Cash Account | show 🗑
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| Classification of the Prepaid Insurance Account | show 🗑
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| show | Asset
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| show | Liability
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| Accounting Equation | show 🗑
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| show | Owner's Equity
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| show | Transaction
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| The amount in an account | show 🗑
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| The account used to summarize the owner's equity in a business in a sole proprietorship | show 🗑
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| show | Revenue
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| show | Accounts Receivable
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| When an owner takes out cash or other assets for personal use it affects the _________ account. | show 🗑
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| show | GAAP
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| The accounting concept that states a business's financial information is recorded and reported separately from the owner's personal financial information. | show 🗑
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
lpenner
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