Accounting terms unit 2
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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Transaction | a business activity that chages assets, liabilities, or owner's equity
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Account | Arecord summarizing all the informaltion pertaining to a single item in the sccount equation
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account title | The name given to the account
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Account balance | The amount in an account
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Capital | The account used to summarize the owner's equity in a business
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Revenue | An increase in owner's equity resulting from the operation of a business
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Sale on account | A sale for which cash will be received at a later date
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Expense | Adecrease in owner's equity resulting from the operation of a business
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Withdrawals | Assets taken out of f business for the owner's personal use.
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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.
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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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