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
Q

Accrued income meaning?

A

Income that has been earned but not yet received

26
Q

Accrued expense meaning?

A

Costs that gradually accumulate over time but haven’t been paid yet

27
Q

Deferred expense?

A

Non-current asset

28
Q

Payroll expenses?

A

Operating expenses

29
Q

Pension fund?

A

Equity

30
Q

Sundry debtors?

A

Current assets

31
Q

Unclaimed dividend/

A

Liability

32
Q

Preference shares?

A

Equity