Topic: Accounting (common words/expressions) - vocabulary matching 1

Match each definition with the letter of one of the following:

a - balance sheet, b - liquid assets, c - liability, d - net income, e - property, f - payroll, g - equity, h - journal, i - cash flow, j - expense

1. a list of all employees and their wages →

2. an accounting record where all business transactions are INITIALLY entered →

3. money that is spent to purchase goods or services provided by someone else →

4. a detailed summary of a person's or a company's financial condition at a specific point in time, taking into account their assets, liabilities, etc. →

5. something that is legally owned by a person or company →

6. an obligation to settle a debt; money owed to someone →

7. this word has 2 meanings: "stock (shares)" and "net worth" →

8. the balance of cash receipts minus cash payments over a given period of time →

9. cash or something that is easily convertible into cash →

10. money remaining after all expenses and taxes have been paid →

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