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Ledger Scramble: Payables & Receivables

Unscramble Letters

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About this activity

Unscramble key accounting terms

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Colombia

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Ledger Scramble: Payables & Receivables
 

Unscramble Letters

Ledger Scramble: Payables & ReceivablesOnline version

Unscramble key accounting terms

by Karen Guarin
1

The finance department responsible for managing, processing, and settling the company’s debts with its suppliers.

        
  
     
2

The amount recorded in the right-hand column of an account.

  
  
3

The amount recorded in the left column of an account.

  
  
4

Money earned from the sale of goods or services.

5

An accounting report that lists all the accounts in a company's general ledger along with their balances.

  
  
6

The net profit or loss earned by an entity during a specific period.

     
  
  
7

Refer to journal entries or cash receipts.

8

The formal recording of a financial transaction in a company's general journal.

  
  
9

The primary and mandatory accounting record in which a company chronologically records all of its financial transactions.

  
  
10

The set of quantitative data that reflects the economic reality of a company or individual.

  
  
11

The department responsible for managing and tracking incoming payments.

        
  
  
  
12

An accounting record that collects and classifies all the economic transactions of a company, grouping them by individual accounts (such as banks, customers or suppliers).

     
  
  
13

A report that subtracts costs and expenses from revenue to show whether there was a profit or a loss.

  
  
14

A financial professional responsible for recording, classifying, and analyzing the financial transactions of an individual or company.

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