Accounting Terminology

Question 1

Property/plot/premises

Answer 1

Land and Buildings

Question 2

Computers/laptops/digital gadgets

Answer 2

Equipment

Question 3

Car/delivery van (transport)

Answer 3

Vehicles

Question 4

Cash/ money

Answer 4

Bank

Question 5

Change in till

Answer 5

Cash float

Question 6

Owner ‘gives’ funds to the business

Answer 6

Capital

Question 7

Owner ‘takes’ business funds for personal use

Answer 7

Drawings

Question 8

Shampoo…… at a hairdressser
Washing powder……… at a dry cleaner
Oils & creams………. at a health spa

Answer 8

Material costs

Question 9

Exist or trade legally

Answer 9

Trading licence

Question 10

Weekly employees

Answer 10

Wages

Question 11

Invoice books, office pens, office printing paper

Answer 11

Stationary

Question 12

Landline phone calls

Answer 12

Telephone

Question 13

Government service

- a basic need

Answer 13

Water

Question 14

Government charge on property

Answer 14

Rates

Question 15

Eskom service

Answer 15

Electricity

Question 16

Fix broken windows doors ect.

Answer 16

Repairs

Question 17

Carrier bags at Pick n Pay

Answer 17

Packaging Material

Question 18

Safety future precaution

Answer 18

Insurance

Question 19

Coffee, tea, milk, etc.

Answer 19

Refreshments

Question 20

Stamps, parcels, etc.

Answer 20

Postage

Question 21

Monthly employees

Answer 21

Salaries

Question 22

Energy for vehicle/repairs to vehicle

Answer 22

Motor expense

Question 23

We are the tenant

Answer 23

Rent income

Question 24

When we market our products or business

Answer 24

Advertising

Question 25

Consumable goods

Answer 25

Cleaning materials

Question 26

When we stock away or cash

Answer 26

Donation expense

Question 27

Render a service

Answer 27

Current income

Question 28

We have a tenant

Answer 28

Rent income

Question 29

Receive as a gift

Answer 29

Donation income