Matching Quizzes in the Accounting Category

Accountants, loans, interest, actuarial work, bookkeeping, financials, etc.

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  • BA120 Unit 2 Terminology Exam (20 words)
    Example: Savings that result from early payment by taking advantage of discounts offered by the seller; discount is not taken on freight or taxes.: Cash Discount, Two or more trade discounts that are applied to the balance remaining after the previous discount is taken. Often called a series discount.: Chain Discount, 100% less the stated percent.: Complement, Credit days are counted from date of invoice. Has no relationship to the discount period.: Credit Period
    Created by IECRB - 2020-01-06
  • BA120 Unit 1 Terminology Exam (7 words)
    Example: Numbers that are combined in the addition process.: Addends, Reducing process that is used to simplify the multiplication and division of fractions.: Cancellation, To add two or more fractions, denominators must be the same: Common Denominator, Number that is 0 or larger and does not contain a decimal or fraction, such as 10.: Whole Number
    Created by IECRB - 2020-01-06
  • BA120 Unit 1 Terminology Exam (20 words)
    Example: Numbers that are combined in the addition process.: Addends, Reducing process that is used to simplify the multiplication and division of fractions.: Cancellation, To add two or more fractions, denominators must be the same: Common Denominator, Number that is 0 or larger and does not contain a decimal or fraction, such as 10.: Whole Number
    Created by IECRB - 2020-01-06
  • BA110 Unit 4 Terminology Exam (15 words)
    Example: A balance sheet that lists assets on the left and liabilities and owner’s equity on the right : Account form balance sheet, Journal entries made to update accounts for items that were not recorded during the accounting period: Adjusting entries, That portion of an asset’s original cost that has not yet been depreciated: Book value, Journal entries that transfer the results of operations (net income or net loss) to owner’s equity and reduce the revenue, expense, and drawing account balances to zero: Closing entries
    Created by IECRB - 2020-01-06
  • BA110 Unit 3 Terminology Exam (12 words)
    Example: A statement to test the accuracy of total debits and credits after transactions have been recorded: Accounting cycle, A chain of references that makes it possible to trace information, locate errors, and prevent fraud: Audit trail, A ledger account form that shows the balance of the account after each entry is posted: Balance ledger form, Organized in the order in which the events occur: Chronological order
    Created by IECRB - 2020-01-06
  • BA110 Unit 2 Terminology Exam (16 words)
    Example: The difference between the amounts recorded on the two sides of an account: Account balance, Written records of the assets, liabilities, and owner’s equity of a business: Accounts, A list of the accounts used by a business to record its financial transactions: Chart of accounts, A means of identifying each account as an asset, liability, or owner’s equity: Classification
    Created by IECRB - 2020-01-06

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