Prompts                                                                                  answer for each word

 

1. Financial statements                                    ----                

2. transaction                                                    ---

3.account                                                          -----

4. assests                                                         -----

5.liabiities                                                          -----

6.equity                                                             -----

 

 

match

a. Any event that affects the financial position of the enterprise and requires recording. In some transactions, such as depositing a check, money changes hands. But in others, such as sending an invoice to a customer, no money changes hands.

 

 

b. set of accounting documents prepared for a business that cover a particular time period and describe the financial health of the business

 

c. What a business owns or is owed. Examples are real property, equipment, cash, inventory, accounts receivable, and patents and copyrights.

 

d. What a business owes. Examples are debt, taxes, accounts payable, and warranty claims.

 

e. Cash that owners or stockholders have put into the business plus their accumulated claims on the assets of the business. Also known as owner's equity or stockholder's equity, depending on how the business is organized.

 

f.A place where we record amounts of money involved in transactions. An account shows the total amount of money in one place as a result of all transactions affecting that account.