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

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Which type of account contains information on people and firms?

Personal Accounts

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Matching concept is an accounting concept. True or False?

True

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A mortgage is classed as a what?

Long term liability

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What is revenue?

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

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A loan that was taken out for 5 years requires a portion to be paid at the end of a 3 month period. Is this an example of a non-current liability?

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thief

Give points!

gift

Win 20 points!

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rocket

Go to first place!

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banana

Go to last place!

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

Prudence

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A sole trader has unlimited liability. True or False

True

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thief

Give points!

rocket

Go to first place!

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rocket

Go to first place!

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thief

Give points!

What is the difference between a current and non-current asset?

A current asset is only expected to be useful to business for up to 1 year while a non current asset is used for more than a year

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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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Give 3 examples of an expense

rent , salary expense, insurance etc.

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baam

Lose 20 points!

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seesaw

Swap points!

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fairy

Take points!

lifesaver

Give 25 points!

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What is an expense?

Money paid out as part of operational costs

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Two examples of revenues

Rent received, Discounts received

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seesaw

Swap points!

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shark

Other team loses 10 points!

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rocket

Go to first place!

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thief

Give points!

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