Accounting
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Property | Anything of value that a business or person owns and therefore controls.
🗑
|
||||
| Financial claim | Legal right to an item.
🗑
|
||||
| Credit | Agreement to pay for a purchase at a later time; an entry on the right side of an account.
🗑
|
||||
| Creditor | A business or person to whom money is owed.
🗑
|
||||
| Assets | Property or items of value owned by a business.
🗑
|
||||
| Equities | Total financial claims to the assets of a business.
🗑
|
||||
| Owner's Equity | Owner's claims to the assets of the business
🗑
|
||||
| Liabilities | Amounts owned to creditors; the claims of creditors to the assets of a business.
🗑
|
||||
| Accounting Equation | Accounting relationship between assets and the two types of equities. Assets = liabilities + owner's equity.
🗑
|
||||
| Business Transaction | Economic event that causes a change - either an increase or a decrease - in assets, liabilities, or owners equity.
🗑
|
||||
| Account | Subdivision under assets, liabilities, or owner's equality that summarizes the changes and shows the balance for a specific item.
🗑
|
||||
| Accounts Receivable | Account of money owed to the business by its credit customers.
🗑
|
||||
| Accounts Payable | Amount of owed, or payable, to the credit customers
🗑
|
||||
| Investment | Money or other property provided for the purpose of making a profit.
🗑
|
||||
| On Account | Purchase of an item on credit.
🗑
|
||||
| Revenue | Income earned from the sales of goods and service.
🗑
|
||||
| Expense | Cost of goods or services used to operate a business.
🗑
|
||||
| Withdrawal | Removal of cash or another asset from the business by the owners for personal taste.
🗑
|
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.
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
Normal Size Small Size show me how
Created by:
226818
Popular Accounting sets