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Accounting Terms Quick Quiz

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Accounting Terms Quick Quiz

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About this activity

Finance vocab check

Created by

camila patiño
camila patiño
Colombia

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Accounting Terms Quick Quiz
 

Accounting Terms Quick QuizOnline version

Finance vocab check

by camila patiño
1

What is a Ledger?

2

What does Balance mean in accounting?

3

What is Debt?

4

Define Income.

5

What is a Tax?

6

What is an Invoice?

7

What does Asset mean?

8

Define Liability (Debt).

9

What is Revenue (Income) in accounting?

10

What is Payroll?

Explicación

A ledger is the primary record where all financial transactions are recorded.

Balance reflects the current monetary amount held in an account.

Debt represents obligations to pay or repay money.

Income is the money earned from work or business activities.

Taxes are compulsory payments to government authorities.

An invoice requests payment for provided goods or services.

Assets are resources owned by a business with value.

Liability is obligations the company owes to external parties.

Revenue is the income from core business activities.

Payroll records employee wages and salaries.

 
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