First
What are the obligations covered by promissory notes?
Notes payable
If there are items that are metallic, mobile and can perform specific functions in a household or in any establishment. What is the account title?
Machinery and Equipment
What is the account that contains the owners' investment in the firm as well as the net income earned?
Owner’s Capital
What are the expenses paid in advance for a future accounting period?
Prepaid Expense
Anna wanted to pay for her rent in her cafe shop so that she could lessen her problems. What is the account title that is related to the topic?
Rent Expense
All stock in various stages of development and a current asset. One of the major assets for most companies. What is the account title that is accurate in the definition?
Inventory
What is the portion of property cost allocated in an accounting period?
Depreciation Expense
Who are the individuals or organizations that hold the ownership and share the stock of a corporation?
Stockholders
What are the economic benefits either owned or controlled by an organization?
Assets
What are the debts of an organization that sacrifices the economic benefits that arise from present obligations?
Liabilities
What measures the increase in inflows of net assets that can result from the sale of goods and services?
Revenues
The name of a type of sheet that can list all assets, liabilities, and stockholders equity.
Balance sheet
SPECIAL CARD: EXCHANGE ASSETS WITH ANOTHER PLAYER
SPECIAL CARD: EXCHANGE ASSETS WITH ANOTHER PLAYER
What’s the term called that measures the decrease of outflows of net assets that incurs in connection with revenues?
Expenses
What is the provision for uncollectible receivables?
Bad Debts
What do we call an intentional misstatement of financial information?
Fraud
SPECIAL CARD: YOUR ASSETS WILL BE DELETED
SPECIAL CARD: YOUR ASSETS WILL BE DELETED
Which Account Title is land required by the business for its use
Land
It is used to refer to revenue from sales of goods that we previously acquired for sale.
Sales
SPECIAL CARD: STEAL THE POINTS OF OTHER PLAYER AND ADD IT TO YOUR OWN SCORE
SPECIAL CARD: STEAL THE POINTS OF OTHER PLAYER AND ADD IT TO YOUR OWN SCORE
What do you call a handy, small, and usually metallic item in performing certain functions such as hammer, saw, and pliers?
Tools
Why is it called unused supplies as an account title?
Because these are the supplies that are still unused at the end of an accounting period.
These are the wheeled items used in making deliveries to customers and clients.
Delivery Equipment
This refers to revenue/profits gained by providing services to customers.
Service Income
Utility bills show the cost of light, power, and water consumption.
Utility Expense