Business English Lesson – Advanced Level''''s archiveAccounting terms pot

Business English Lesson – Advanced Level's archive
Accounting terms
1. The customary manner in which a business analyzes
and records its is by first entering them into a
journal.

transactions
communications
dealings
ventures
2. Journal entries are entered in order, meaning by
date, with the earliest date first.

sequential
numerical
chronological
successional
3. Once the transactions have been entered into the
journal they are or transferred into their individual
General Ledger accounts.

noted
lifted
allocated
posted
4. All increase with a debit entry and decrease with
a credit entry.

advantages
associates
assets

assurances
5. Liabilities either have a credit or no at all.

scale
balance
debit
debut
6. Capital accounts represent the owner's worth in
the business.

equity
value
hammock
net
7. accounts are accounts for your sources of
business-generated income.

liability
revenue
balance
drawing
8. The is the difference between what a business
pays for an item wholesale and what the business sells it
for retail.

markup
makeup
makeshift
moreover
9. An accounts payable shows how much you owe

each of your vendors.

lecture
leeway
ledger
manual
10. Accounts shows how much money your
customers owe you.

incoming
receivable
obtainable
collectable