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Accounting Vocabulary Click Quiz
This is a restyling of my old Accounting Vocabulary Text Quiz.
Read the definition given in the hint and select the correct term from among those given.
Constructive criticism is welcome. Subscribe to get a notification when I release a new quiz.
Read the definition given in the hint and select the correct term from among those given.
Constructive criticism is welcome. Subscribe to get a notification when I release a new quiz.
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Last updated: February 8, 2025
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| First submitted | February 8, 2025 |
| Times taken | 329 |
| Average score | 44.0% | Report this quiz | Report |
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Business expenditures not directly associated with the production of goods or services, e.g., advertising costs, property taxes or insurance premiums.
A systematic way of recording and reporting financial transactions for a business or organization.
The amount of money owed by customers or clients to a business after goods or services have been delivered and/or used.
A financial report that summarizes a company's assets (what it owns), liabilities (what it owes) and owner or shareholder equity, at a given time.
A company's total earnings, calculated by subtracting total expenses from total revenues.
A set of rules and guidelines developed by the accounting industry for companies to follow when reporting financial data.
An incurred expense that hasn’t been paid yet.
An accounting entry that may either decrease assets or increase liabilities and equity on the company's balance sheet, depending on the transaction.
A business document in which all ledgers are compiled into debit and credit columns in order to ensure a company’s bookkeeping system is mathematically correct.
A situation wherein an individual or organization can no longer meet financial obligations with lender(s) when their debts come due.
A group of securities that behaves similarly in the marketplace.
The direct expenses related to producing the goods sold by a business.
A financial asset or the value of a financial asset, such as cash or goods.
Assets that will be converted to cash within one year.
Expenditures that may change from one time period to another, e.g., labor costs.
Long-term assets likely to provide benefits to a company for more than one year, such as a real estate, land or major machinery.
Debts that are payable within a year.
A financial statement that is used to summarize a company’s performance and financial position by reviewing revenues, costs and expenses during a specific period of time, such as quarterly or annually.
A complete record of the financial transactions over the life of a company.
Debts that are typically payable over a period of time greater than one year, e.g. a mortgage.
Payments (e.g., rent) that will be made on a regular schedule.
The practice of allocating or spreading capital investments into varied assets to avoid over-exposure to risk.
The revenue or expense expected to be generated through business activities (sales, manufacturing, etc.) over a period of time.
The amount of money a company owes creditors (suppliers, etc.) in return for goods and/or services they have delivered.
An accounting entry where there is either an increase in assets or a decrease in liabilities on a company's balance sheet.
accounting
accounts payable
accounts receivable
accrued expense
asset class
balance sheet
capital
cash flow
cost of goods sold
credit
current assets
current liabilities
debit
diversification
fixed assets
fixed expense
general ledger
generally accepted accounting principles
insolvency
long-term liabilities
net income
operation expenses
profit and loss statement
trial balance
variable expenses
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