
Exploring Business Activities: Accounting

Flashcard
•
Other, Specialty
•
6th - 8th Grade
•
Hard
Wayground Content
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27 questions
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1.
FLASHCARD QUESTION
Front
The system of recording and reporting financial activity and transactions.
Back
Accounting
2.
FLASHCARD QUESTION
Front
A formal examination of a company's financial records for accuracy and compliance with regulations.
Back
audit
3.
FLASHCARD QUESTION
Front
a plan that shows what you expect to earn and spend in a certain period of time
Back
budget
4.
FLASHCARD QUESTION
Front
A written report which describes the financial health of a company. Examples include: balance sheet, income statement, statement of changes in owners equity
Back
financial statement
5.
FLASHCARD QUESTION
Front
What is a report showing all assets, liabilities, and owners equity of a business as of a specific date? Options: income statement, accountant, balance sheet, revenue report
Back
balance sheet
6.
FLASHCARD QUESTION
Front
things owned by a company (items)
Back
assets
7.
FLASHCARD QUESTION
Front
money owed by a business (debts, accounts payable, taxes)
Back
liabilities
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