Accounting bingo

Exercise and reference answers

Clues and terms

1. Clue

   Value sold to customers.

   Item

   Revenue

2. Clue

   Cost of providing it.

   Item

   Expense

3. Clue

   Expenses beat revenues.

   Item

   Net loss

4. Clue

   One-off sale above cost.

   Item

   Gain

5. Clue

   Used up within a year.

   Item

   Current asset

6. Clue

   Assets minus liabilities.

   Item

   Equity

7. Clue

   Speed of turning to cash.

   Item

   Liquidity

8. Clue

   Current assets over debts.

   Item

   Current ratio

9. Clue

   Taxed at firm and owner.

   Item

   Double tax

Instructions

Read each clue and tap the term it describes.

Explanation