Accounts | Baamboozle - Baamboozle | The Most Fun Classroom Games!

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10

What is an expense?

Money paid out as part of operational costs

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10

A mortgage is classed as a what?

Long term liability

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15

Which class of account contains only possessions of the business?

Real Accounts

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5

What is the accounting equation?

Assets= Capital + Liabilities

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15

Which class of accounts contains income and expenses?

Nominal Accounts

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lifesaver

Give 15 points!

Oops!

gold

Win 50 points!

Okay!

gift

Win 10 points!

Okay!

baam

Lose 25 points!

Oops!

seesaw

Swap points!

Oops!

gold

Win 50 points!

Okay!

gift

Win 10 points!

Okay!

lifesaver

Give 5 points!

Oops!

banana

Go to last place!

Oops!

shark

Other team loses 25 points!

Okay!

shark

Other team loses 15 points!

Okay!

thief

Give points!

5

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15

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25

seesaw

Swap points!

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fairy

Take points!

5

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25

fairy

Take points!

5

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25

lifesaver

Give 5 points!

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5

When you rather understate profits rather than over state we call this...

Prudence

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5

Capital is only considered as money invested in the business? True or False

False

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5

What is professional ethics?

Professional ethics are principles that govern the behavior of a person or group in a business environment. Like values

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10

Which type of account contains information on people and firms?

Personal Accounts

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5

What is a definition of an asset?

Assets are resources owned by an organization

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10

Two examples of revenues

Rent received, Discounts received

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5

The business entity concept means that the owner and the business are considered ONE ENTITY. Yes or No

No

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