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

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10

Two examples of revenues

Rent received, Discounts received

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10

What is revenue?

additional source of income to the organization that may not be apart of its regular trading activity

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10

Which type of account contains information on people and firms?

Personal Accounts

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10

Give 2 examples of an Asset

Car, Machine, Equipment

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5

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

Prudence

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5

A sole trader has unlimited liability. True or False

True

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5

What is a liability defined as?

economic obligations or payables of the business

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heart

Other team wins 25 points!

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magnet

Take 10 points!

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fairy

Take points!

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thief

Give points!

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5

Materiality is a type of accounting concept? Yes or No

Yes

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10

How do you find Capital?

Assets - Liabilities

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lifesaver

Give 20 points!

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magnet

Take 25 points!

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gift

Win 25 points!

Okay!

baam

Lose 20 points!

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5

What is a definition of an asset?

Assets are resources owned by an organization

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boom

Lose 50 points!

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magnet

Take 25 points!

Okay!

fairy

Take points!

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lifesaver

Give 25 points!

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boom

Lose 50 points!

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shark

Other team loses 10 points!

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fairy

Take points!

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thief

Give points!

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15

Give 3 examples of an expense

rent , salary expense, insurance etc.

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5

A partnership is easier to form than a company. True or False?

True

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