Accounting Jeopardy + Others

Chart of Accounts

100

The most liquid asset in a chart of accounts?

Cash

200

These accounts are listed in alphabetical order

Expense Accounts

300

This account, found under "Liabilities" in the chart of accounts, represents money owed by the business to external parties.

Accounts Payable

400

You would typically find an account for "Sales" under this section of the chart of accounts.

Revenue Section

500

These accounts in the chart of accounts represent the owner’s investment and retained earnings in the business.

Owner's Equity

Assets

100

This type of asset includes items such as shoe laces, tires, or other raw material 

Supplies

200

This asset account is used to record a payment of insurance  

Prepaid Insurance

300

This type of asset account is used to record the amount owed to a company for sales

Accounts Receivable

400

The most liquid of all assets?

Cash

500

This asset is adjusted over the period as coverage period elapses 

Prepaid Insurance

Accounting Misc

100

The _________ basis of accounting records activity as cash is earned

Cash 

200

The _________ basis of accounting records revenue and expenses when they occur regardless of whether of not cash exchanges hands. 

accrual

300

This statement records all of the income of a company

Income statement

400

This statement records all of the assets and liabilities of a company

Balance Sheet

500

This is a term used to denote the particular 12 month time period that a business operates... does not have to be year end December 31st.  

Fiscal Period 

Non-accounting Misc

100

This team won last year's Superbowl (LVIII)? 

Kansas City Chiefs

200

What is the capital of the United States?

Washington DC

300

In ancient Greek religion and mythology, he rules as king of the gods on Mount Olympus

Zeus

400

Who played Tony Stark (Iron Man) in the Marvel Cinematic Universe? 

Robert Downey, Jr. 

500

This MLB team has the second most world series titles

St. Louis Cardinals