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World Geography + Flags
CHAPTER 2
CHAPTER 3
CHAPTER 4
CHAPTER 5
100

Which country’s flag has a red circle on a white background?

Japan

100
The type of accounts recorded on the right side of the balance sheet
What are liabilities and owners equity accounts?
100
!! DAILY DOUBLE !! Systematic check of accounting records and procedures by an accountant.
What is an audit?
100
Proof of the mathematical accuracy of the ledger.
What is a trial balance?
100
An increase to the owner’s equity for the period.
What is net income?
200

What is the capital of Australia?

Canberra

200
!! DAILY DOUBLE!! List of ledger account balances
What is a trial balance?
200
An entry that has more than one debit or more than one credit.
What is a compound entry?
200
500-599
What account number does expense accounts belong in?
200
Payments that are made in advance.
What are prepaid expenses?
300

What long, narrow Southeast Asian country stretches along the South China Sea?

Vietnam

300
Account, debit, credit.
What are the 3 column headings in a trial balance?
300
A list of the names and account numbers of all of the accounts in a ledger.
What is a chart of accounts?
300
The business form that serves as the original source of information that a transaction occured.
What is a source document?
300
Accounts payable, taxes payable, salaries payable, and loans payable.
What are some examples of current liabilities?
400

Which country’s flag features a red and white cross?

Switzerland

400
The debit amount equals to the credit amount for each transaction
What is double-entry accounting?
400
200-299
What account number does the Liability account fall under?
400
Prepared for all cash saled by a business
What is a cash sales slip?
400
A document used to prepare the financial statements at the end of the fiscal period.
What is a work sheet?
500

What country does Jerusalem have as its capital?

Israel

500
1.Add up the debit side, 2. Add up the credit side, 3. Subtract the smaller amount from the larger and place the answer on the larger side of the account.
What are the 3 steps in determining account balances?
500
A period of time covered by the financial statements.
What is the accounting period?
500
!! DAILY DOUBLE !! Objective evidence to support the value used to record transactions.
What does the principle of objectivity require?
500
A document that describes the changes is owner’s equity for the accounting period.
What is the statement of owner’s equity?