Financial Accounting Basics Word Scrambles

 

1. The process of communicating financial information to people outside of an organization.

nilcfnaia ncucatigon

financial accounting

2. The expanded accounting equation includes revenues, expenses, common stock, dividends, paid in capital, and ________.

sryrtaue cktos

treasury stock

3. Resource accounts with the same balance as expenses.

Sstaes

assets

4. A formula used to compute and balance double entry accounting.

Gctauncnoi Eqotiuan

accounting equation

5. Unearned revenues are what type of account?

Lsaeibiiilt

liabilities

6. Paid in capital is what type of account?

ityqeu

equity

7. What do journal entries record?

esbnuiss nattnisrosca

business transactions

8. The concept that debits will always equal credits.

ledbou trney onctiungca

double entry accounting

9. A record or document that contains account summaries for accounts used by a company.

rlgaene gdlree

general ledger

10. An account with an opposite balance.

Oactnr Uaocnct

Contra Account





error: Content is protected !!