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Accounting and Financial Statements Flashcards | StudBud
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Accounting and Financial Statements
Accounting and Financial Statements
10 terms
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English for Economics 2
Flashcards
10 cards
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Questions
10
Answers
1
Inspecting and reporting on accounts and financial records.
Auditor
Banking
Auditing
Bankrupt
2
An entry in an account, recording a payment made.
Income
Debit
Credit
Debt
3
All the money received from business activities during a given period.
Income
Transactions
Assets
Cash
4
Adjective describing something without a material existence, which you can't touch.
Tangible
Payable
Current
Intangible
5
All the money that a company will have to pay in the future, including debts, taxes and interest payments.
Debits
Expenditure
Liabilities
Credits
6
All the money that a business spends on goods or services during a given period.
Expenditure
Profit
Debts
Liabilities
7
Providing information to make decisions, plan future operations and develop business strategies.
Managerial
Management accounting
Accounting
Taxation
8
Writing down the details of transactions (debits and credits).
Providing
Calculating
Bookkeeping
Auditing
9
An entry in an account, recording a payment received.
Debit
Income
Credit
Debt
10
A financial operating plan showing expected income and expenditure.
Money
Budget
Credit
Asset