Team 1
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Team 2
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Teams
Name
Score
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15
×
What you owe are called as
Liability
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15
×
Which transaction are called as credit transaction?
Payment made on a future date
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15
×
What is called as purchase return?
We have returned goods to supplier
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15
×
Balance sheet shows the
financial position of the business
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×
seesaw
Swap points!
Oops!
×
magnet
Take 25 points!
Okay!
×
shark
Other team loses 15 points!
Okay!
×
banana
Go to last place!
Oops!
15
×
Accounting equation is also called as
Balance sheet equation
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Okay!
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×
baam
Lose 20 points!
Oops!
×
shark
Other team loses 20 points!
Okay!
×
fairy
Take points!
5
10
15
20
25
×
banana
Go to last place!
Oops!
15
×
What are called as non current assets?
Assets purchased by the business to keep it for long time and have high life span
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15
×
What are called as inventory?
Goods purchased for resale
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15
×
Trade payable and account receivable is the same
incorrect
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15
×
Capital is also called as
Owners equity
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×
monster
Reset all scores!
Oops!
×
rocket
Go to first place!
Okay!
×
gift
Win 15 points!
Okay!
×
baam
Lose 10 points!
Oops!
15
×
Financial position means.......
Assets and liability position of the company
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15
×
Trade receivable and accounts receivable is the same
correct
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15
×
What is called as book keeping
Detailed recording of all the financial transactions of a business
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15
×
Another term for Debtor?
Trade receivable
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×
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