11ACC Chap 1&2 Crossword of death

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Across
  1. 2. A resource contolled by an entity, resulting in a future economic benefit
  2. 4. A present obligation resulting in an outflow of economic benefits
  3. 7. Useful for decition making
  4. 9. Example of large non-current asset
  5. 12. Residual interest in the assets of the entity (2 words)
  6. 14. Ability of a firm to pay off short term debts
  7. 15. Ability of the busines to meet its debt level for continuous operation
Down
  1. 1. Accounting report detailing a firms finnacial position (2 words)
  2. 3. The most common form of current asset
  3. 5. Claims on the assets of the firm
  4. 6. Proportion of the firms assets funded by external sources (2 words)
  5. 8. Accounting equation
  6. 10. The owner is separate from the business
  7. 11. The life of the business is assumed to be continuous (2 words)
  8. 13. Accounting reports should contain info that is accurate