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Accounting bingo

Exercise and reference answers

Clues and terms
  1. Clue
    Rules behind the statements.
    Item
    GAAP
  2. Clue
    Guards investors and markets.
    Item
    SEC
  3. Clue
    Recognised when earned.
    Item
    Revenue rec
  4. Clue
    Costs beside their revenue.
    Item
    Matching
  5. Clue
    Firm keeps operating.
    Item
    Going con
  6. Clue
    Asset stays at its price.
    Item
    Hist cost
  7. Clue
    All accounts and balances.
    Item
    Ledger
  8. Clue
    Entry on the left side.
    Item
    Debit
  9. Clue
    Entry on the right side.
    Item
    Credit
Instructions
Read each clue and tap the term it describes.

Explanation

_Source: OpenStax Principles of Accounting Volume 1, Chapter 3, Analyzing and Recording Transactions._
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