Accounting vocabulary

Froggy Jumps

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Read the sentences and choose the correct meaning of the word or phrase in capitals.

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Euge Pasayo

Argentina

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Accounting vocabulary


Froggy Jumps Accounting vocabularyOnline version Read the sentences and choose the correct meaning of the word or phrase in capitals. by Euge Pasayo 1 “The company’s INCOME STATEMENT showed a significant increase in profits over the last quarter.” a A list of all the employees and their roles. b A financial document summarizing revenues and expenses over a period. c A contract outlining business goals for a fiscal year. 2 “Last year, our SALES REVENUE increased by 12% due to the holiday season rush.” a The total amount earned from product or service sales. b The number of products manufactured in a year. c The sum of all company debts and liabilities. 3 “Our GROSS MARGIN improved after we reduced production costs.” a The cost of raw materials used in production. b The difference between sales revenue and cost of goods sold. c The total interest paid on business loans. 4 “High OPERATING COSTS are eating into our profits this quarter.” a Money earned through investments. b Bonus payments made to employees. c Expenses related to everyday business functions. 5 “The profit MARGIN on this product is too low for us to continue selling it.” a The price at which goods are imported. b The difference between cost and selling price, expressed as a percentage. c The minimum stock level required in the warehouse. 6 “Rent and salaries are examples of FIXED EXPENSES that we must pay regardless of sales.” a Payments made only when profits are high. b Costs that vary based on production volume. c Regular, unchanging business expenses like rent and utilities. 7 “Our EARNINGS this year exceeded forecasts thanks to strong international sales.” a The total cost of running a business. b Profits a company makes after all expenses. c The number of employees hired. 8 “We hired a CPA to review our financial statements before the audit.” a A government agency that controls financial laws. b A software program used to calculate payroll. c A licensed professional qualified to perform audits and prepare taxes. 9 “Our BEAN COUNTER insists we cut costs even on coffee supplies!” a A casual term for a meticulous accountant or financial controller. b A chef responsible for inventory. c A factory worker handling product packaging. 10 “She received a LUMP SUM payment after selling her shares in the company.” a A single payment made all at once, rather than in installments. b A recurring monthly salary paid to executives. c A percentage of a product’s manufacturing cost.

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Accounting vocabulary

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Accounting vocabularyOnline version

by Euge Pasayo

“The company’s INCOME STATEMENT showed a significant increase in profits over the last quarter.”

“Last year, our SALES REVENUE increased by 12% due to the holiday season rush.”

“Our GROSS MARGIN improved after we reduced production costs.”

“High OPERATING COSTS are eating into our profits this quarter.”

“The profit MARGIN on this product is too low for us to continue selling it.”

“Rent and salaries are examples of FIXED EXPENSES that we must pay regardless of sales.”

“Our EARNINGS this year exceeded forecasts thanks to strong international sales.”

“We hired a CPA to review our financial statements before the audit.”

“Our BEAN COUNTER insists we cut costs even on coffee supplies!”

“She received a LUMP SUM payment after selling her shares in the company.”