Accounting Ch. 1 Vocabulary: Question Preview (ID: 10435)

Below is a preview of the questions contained within the game titled ACCOUNTING CH. 1 VOCABULARY: Vocab Ch. 1 .To play games using this data set, follow the directions below. Good luck and have fun. Enjoy! [print these questions]

Play games to reveal the correct answers. Click here to play a game and get the answers.

A financial statement that reports assets, liabilities, and owner's equity on a specific date
a) account
b) balance sheet
c) transaction
d) asset

Planning, recording, analyzing, and interpreting financial information
a) accounting
b) asset
c) accounting equation
d) account balance

An equation showing the relationship amount assets, liabilities, or owner's equity.
a) accounting records
b) transaction
c) account
d) accounting equation

A business activity that changes assets, liabitlies, or owner's equity.
a) capital
b) account balance
c) transaction
d) accouting records

A planned process for providing financial information that will be useful to management
a) accoutning records
b) transaction
c) accounting system
d) service business

The amount in an account
a) account balance
b) asset
c) capital
d) account

The amount remaining after the value of liabilities is subtracted from the value of all assets.
a) owner's equity
b) captial
c) asset
d) liabilities

A record summarizing all the information pertaining to a single item in the accouting equation.
a) equities
b) proprietorship
c) transaction
d) account

Oraganized summaries of a business's financial activities
a) transaction
b) accounting records
c) account
d) accouting system

Fiancial rights to a business
a) account balance
b) capital
c) equities
d) asset

Play Games with the Questions above at
To play games using the questions from the data set above, visit and enter game ID number: 10435 in the upper right hand corner at or simply click on the link above this text.

Log In
| Sign Up / Register