Course Outline
Join PRO
Join PRO to View Coaching

Elements of Financial Statements (Word Scramble)

Author:
Harold Averkamp, CPA, MBA

To see each answer, press or click on the blue "Unscramble" button.

1. Probable future economic benefits is part of the definition of __________.

ASSETS STSSEA
ASSETS ESSATS

2. Inflows from delivering goods or services and other activities that are part of a company's main operations.

REVENUES VNSEEUER
REVENUES REEUSVNE

3. The residual interest in the assets of an entity after deducting liabilities.

EQUITY TQUEIY
EQUITY QYIUET

4. ______________ by owners increase their ownership interest.

INVESTMENTS TIEEVMSSNNT
INVESTMENTS SVIENMTSNET

5. Probable future sacrifices resulting from a past transaction or event.

LIABILITIES IEISBIILATL
LIABILITIES LISAEIIILBT

6. Outflows, using up of assets, or incurring a liability as the result of earning revenues.

EXPENSES XPESSNEE
EXPENSES SESEEPNX

7. Other ___________________ income includes foreign currency translation adjustments.

COMPREHENSIVE CHRNVMEESPIOE
COMPREHENSIVE IMEESVPNEOCRH

8. The net outflows resulting from peripheral transactions.

LOSSES LSOSSE
LOSSES ESSSLO

9. __________________ to owners will decrease owner's equity.

DISTRIBUTIONS SDIBORINSTUIT
DISTRIBUTIONS UDSTNIIRBISOT

10. The net increases in equity from peripheral transactions.

GAINS SGNIA
GAINS ASIGN
Access 1,800+ Premium Test Questions

Access 1,800+ Premium Test Questions

Receive instant access to our entire collection of premium materials, including our 1,800+ test questions.

View All PRO Features

Advance Your Accounting and Bookkeeping Career

Choose Your Video

  • Perform better at your job
  • Get hired for a new position
  • Understand your small business
  • Pass your accounting class
Choose Your Video
Certificates of Achievement

Earn Our Certificates of Achievement

Certificates of Achievement
  • Debits and Credits
  • Adjusting Entries
  • Financial Statements
  • Balance Sheet
  • Income Statement
  • Cash Flow Statement
  • Working Capital and Liquidity
  • Financial Ratios
  • Bank Reconciliation
  • Accounts Receivable and Bad Debts Expense
  • Accounts Payable
  • Inventory and Cost of Goods Sold
  • Depreciation
  • Payroll Accounting
View PRO Plus Features

Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials

Read all 3,033 reviews

Features

PRO

PRO Plus

Features
Lifetime Access (One-Time Fee)
Explanations
Quizzes
Q&A
Word Scrambles
Crosswords
Bookkeeping Video Training
Financial Statements Video Training
Flashcards
Visual Tutorials
Quick Tests
Quick Tests with Coaching
Cheat Sheets
Bookkeeping Study Guide
Managerial Study Guide
Business Forms
All PDF Files
Progress Tracking
Certificate - Debits and Credits
Certificate - Adjusting Entries
Certificate - Financial Statements
Certificate - Balance Sheet
Certificate - Income Statement
Certificate - Cash Flow Statement
Certificate - Working Capital
Certificate - Financial Ratios
Certificate - Bank Reconciliation
Certificate - Accounts Receivable and Bad Debts Expense
Certificate - Accounts Payable
Certificate - Inventory and Cost of Goods Sold
Certificate - Depreciation
Certificate - Payroll Accounting
Earn Badges and Points
Medal Rankings
Activity Streaks
Custom Public Profile Page of Achievements

About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

Learn More About Harold

Read 3,033 Testimonials

Take the Tour Join Pro Upgrade to Pro Plus