Accounting Equation, T-Account, Business and Accounting Terms
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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| Asset | show 🗑
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| Equities | show 🗑
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| show | An amount owed by a business
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| show | The amount remaining after the value of all liabilities is subtracted from the value of all assets
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| show | Shows the relationship among assets, liabilities and owner's equity. It is most often stated as Assets=Liabilities + Owner's Equity
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| show | A business activity that changes assets, liabilities, or owner's equity.
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| Account | show 🗑
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| Account Title | show 🗑
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| show | The amount in an account
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| Capital | show 🗑
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| Revenue | show 🗑
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| Sale on Account | show 🗑
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| Expense | show 🗑
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| show | Assets taken out of a business for the owner's personal use
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| show | An accounting device used to analyze transaction
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| show | An amount recorded on the left side of a T-account
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| Credit | show 🗑
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| Normal Balance | show 🗑
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| Chart of Accounts | show 🗑
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| Service Business | show 🗑
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| show | A business owned and controlled by one owner
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| show | The planning recording, analyzing, and interpreting of financial information
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| show | The process for providing financial information that will be useful to management
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| Accounting Records | show 🗑
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| show | Reports that summarize the financial condition and operations of a business
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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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Created by:
mercerp53
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