Accounting Misc Flashcards

1
Q

Bank reconciliation category?

A

Cash

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2
Q

Billing category?

A

AR

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3
Q

Inventory reconcilaition category?

A

Inventory

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4
Q

Depreciation category?

A

PPE

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5
Q

Book all vendors category?

A

AP

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6
Q

Accrue expenses category?

A

Liability

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7
Q

Reconcile deferred revenue category?

A

Liability

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8
Q

Stock option activity category?

A

Equity

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9
Q

Rent or deferred rent category?

A

Operating expenses

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10
Q

Record payroll category?

A

Operating expenses

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11
Q

Travel expenses category?

A

Operating expenses

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12
Q

Accrue taxes category?

A

Non-operating expenses

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13
Q

Record interest expense category?

A

Non-operating expenses

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14
Q

Xlookup syntax?

A

Lookup value, lookup array, return array

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15
Q

Bank loan?

A

Non-current liability

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16
Q

Another name for deferred revenue?

A

Revenue in advance

17
Q

Outstanding expenses?

A

Current liability

18
Q

Outstanding income?

A

Current asset

19
Q

Deferred revenue?

A

Current liability

20
Q

Accrued income?

A

Current asset

21
Q

Accrued expenses?

A

Current liabiltiy

22
Q

Accrue said simply?

A

Gradually build up or accumulate over time

23
Q

Accrued income example?

A

Service provided but not yet billed for

24
Q

Accrued expense example?

A

Unpaid bills or wages owed to employees for work already performed

25
Accrued income meaning?
Income that has been earned but not yet received
26
Accrued expense meaning?
Costs that gradually accumulate over time but haven't been paid yet
27
Deferred expense?
Non-current asset
28
Payroll expenses?
Operating expenses
29
Pension fund?
Equity
30
Sundry debtors?
Current assets
31
Unclaimed dividend/
Liability
32
Preference shares?
Equity