Accounting Vocabulary Nov | Baamboozle - Baamboozle

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15

An individual or organization that owes money.

CREDITOR

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15

Something valuable that an individual, corporation, or country owns or controls.

ASSET

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15

The cost incurred by a company to produce or purchase the goods it sells.

COST OF GOODS SOLD

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heart

Other team wins 10 points!

Oops!

rocket

Go to first place!

Okay!

shark

Other team loses 5 points!

Okay!

lifesaver

Give 25 points!

Oops!

15

A financial document that outlines the planned expenses and revenues over a specific period.

BUDGET

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15

The process of examining and verifying a company's financial statements.

AUDIT

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15

A record of financial transactions, often referred to as the book of original entry.

JOURNAL

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15

A financial statement that shows a company's financial position at a specific date.

BALANCE SHEET

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15

The money a business earns from its normal business activities.

REVENUE

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15

The process of calculating the total of a column of numbers.

ADDITION

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seesaw

Swap points!

Oops!

gold

Win 50 points!

Okay!

shark

Other team loses 15 points!

Okay!

banana

Go to last place!

Oops!

15

The process of keeping track of a company's financial transactions.

BOOKKEEPING

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lifesaver

Give 20 points!

Oops!

seesaw

Swap points!

Okay!

rocket

Go to first place!

Okay!

baam

Lose 15 points!

Oops!

15

The financial statement that shows the changes in a company's equity accounts.

EQUITY STATEMENT

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15

Amounts due to a company for goods or services provided but not yet paid.

RECEIVABLE

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15

A financial statement that summarizes a company's revenues and expenses.

INCOME STATEMENT

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