Accounting
Review the language of accounts, assets, liabilities, audits, and financial records. Built for making business numbers easier to read.
AccountingBusiness
A private copy will be added to your library.
Created by qram-ai
Review the language of accounts, assets, liabilities, audits, and financial records. Built for making business numbers easier to read.
A private copy will be added to your library.
Created by qram-ai
| Term | Paired term |
|---|---|
| Account | Record of financial transactions |
| Accounting Equation | Assets = Liabilities + Equity |
| Accrual Accounting | Recognize revenue when earned and expenses when incurred |
| Accounts Payable | Short-term debts to suppliers |
| Accounts Receivable | Money owed by customers |
| Asset | Resource owned by a business |
| Amortization | Allocation of the cost of an intangible asset over a period of time |
| Audit | Independent financial examination |
| Adjusting Entry | Corrects account balances |
| Allowance | Estimated reduction in the value of accounts receivable |
+ 468 more terms
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