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Vocabulary for Accounting

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  • The ________ is a key document for investors to review.
    balance sheet
  • The _______ shows the financial position of the company as of December 31.
    balance sheet
  • The business must manage its _______ to remain profitable.
    expenses
  • Positive _______ is crucial for maintaining operations.
    cash flow
  • Cash and inventory are considered ______ of the company.
    assets
  • The company’s ________ include cash, inventory, and equipment.
    assets
  • The financial ________ showed a significant increase in ________ last year.
    statement / revenue
  • The company has ______ totaling $500,000.
    liabilities
  • The company's _______ rose by 10% compared to last year.
    revenue
  • After paying off its ________, the company was in a better financial position.
    liabilities
  • The accountant is responsible for tracking ________ accurately.
    expenses
  • Unexpected ______ led to a significant ______, affecting the company’s overall financial health.
    expenses / loss
  • The company has a large _______ that it expects to collect soon.
    accounts receivable
  • The _______ indicated that the company made a profit this quarter.
    income statement
  • The company’s _______ increased after purchasing new equipment.
    accounts payable
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