accounting- grade 10 business- vocabulary practice Flashcards

learn what category the the vocabulary go to( assets? liabilities? equity?)

1
Q

Cash

A

assets

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2
Q

Accounts Receivable

A

assets

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3
Q

inventory

A

assets

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4
Q

prepaid expenses

A

assets

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5
Q

property, plant, and equipment( ppe)

A

assets

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6
Q

land

A

assets

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7
Q

buildings

A

assets

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8
Q

investments

A

assets

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9
Q

machinery

A

assets

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10
Q

vehicles

A

assets

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11
Q

intangible assets (e.g. patents, trademarks )

A

assets

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12
Q

account payable

A

liability

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13
Q

loans payable

A

liability

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14
Q

wages payable

A

liability

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15
Q

notes payable

A

liability

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16
Q

Accrued Expenses

A

liability

17
Q

mortgage payable

A

liabilities

18
Q

Bonds payable

A

liability

19
Q

unearned Revenue

A

liability

20
Q

taxes payable

A

liability

21
Q

debts

A

liability

22
Q

retained earnings

A

equity

23
Q

common stock

A

equity

24
Q

dividends

A

equity

25
Q

owner’s draw

A

equity

26
Q

additional paid in capital

A

equity

27
Q

net income

A

equity

28
Q

owner’s investment

A

equity

29
Q
A
30
Q

assets

A

what you own

31
Q

liabilities

A

what you owe

32
Q

owner’s equity

A

the owner’s share ( after subtracting what’s owed from whats owned