vocabulario Contable

The property, equipment, and cash a company owns are called:

• Liability
  

• Asset

• Expense
  

• Revenue

The financial obligations a company has are called:

• Equity

• Accounts Receivable

• Liability

• Inventory

The owners’ investment in the company is known as:

• Equity

• Depreciation

• Expense

• Revenue

The financial statement that shows assets, liabilities, and equity is called:

• Income Statement

• Balance Sheet

• General Journal
  

• Journal Entry

The record of a financial transaction is known as a:

• Journal Entry

• Liability

• asset

• Accounts Receivable

The book where all transactions are recorded chronologically is the:

• Balance Sheet

• General Journal

• Inventory

• Income Statement

The expenses a company incurs to operate are called:

• Expense

• Revenue

• Equity

• Depreciation

The money that comes into the company from sales or services is called:

• Accounts Receivable
  

• Liability

• Revenue

• asset

The goods a company has to sell or use are called:

• Inventory

• Expense

• Equity

• Depreciation

The reduction in value of assets over time is known as:

• Depreciation

• Revenue

• Liability

• Journal Entry