Accounting Vocabulary
Authored by Andrew P
Business
6th - 8th Grade
Used 20+ times
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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The process of keeping track of a business' finances
Accounting
Transaction
Accounting Cycle
Income Statement
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The right side of the T-chart
Liability
Credit
Debit
Asset
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The left side of the T-chart
Liability
Credit
Debit
Asset
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assets = Liabilities + Equity
Double-entry Method
Balance Sheet
Accounting Cycle
Accounting Equation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Must be balanced - meaning both sides of the equation must be equal
Balance Sheet
Income Statement
Accounting Cycle
Double-entry Method
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The process of recording and processing the accounting events of a company
Accounting
Accounting Cycle
Liability
Equity
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A financial statement that provides information about a company's present condition
Balance Sheet
Income Statement
Accounting Equation
LLC
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