Accounting Terms
Skills Test
Let's see if you've got your ducks in a row regarding Accounting and Bookkeeping Terminology.
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Instructions:
Match the term with the definition:
Definition
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Terms
Assets
Liabilities
Expense
Accounts Receivable
Notes Receivable
Inventory
Owner's Investments
Owner's Drawing
Revenue
Owner's Equity
Debit
Credit
Accounting Equation
Land
Buildings
Double Entry
Accrual Method
Furniture
Equipment
Office Supplies
Cash
Single Entry
Temporary Account
Permanent or Real Account
Cash Method
Debit
Credit
Work Sheets
Invoice
Balance Sheet
Income Statement
Capital Statement
Statement of Changes in Financial Position
Receiving Report
Sales Order
Purchase Order
Check Book
Bank Statement
Accounting
Bookkeeping
Bank Reconciliation
Check
Posting
Profit
Property
Trial Balance
Chart Of Accounts
Working Capital
Current Liabilities
Journal
Income Statement Account
Contra Account
Account
T-Account
Balance Sheet Account
Subsidiary Ledger
Closing The Books
Current Assets
General Ledger
Special Journals
Loss
Select the term that matches the definition
Explanation