1.4 Terms

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Across
  1. 2. up budget plans income and expenses from the beginning of a new business or a major business expansion until it becomes profitable
  2. 4. all income that a business receives over a period of time
  3. 10. differences between actual and budgeted performance
  4. 12. Equity  the value of the business after liabilities are subtracted from assets; the value of the owner’s investment in the business
  5. 13. Statement  a report of revenue, expenses, and net income or loss from operations for a specific period
  6. 14. record Operating describes the financial plan for ongoing operations of the business for a specific period of time
Down
  1. 1. sheet   a report that lists a company’s assets, liabilities, and owner’s equity
  2. 3. Records financial documents that are used to record and analyze the financial performance of a business
  3. 5. system  a financial document that contains information on all employees of the company, their compensation, and benefits
  4. 6. Fund  funds are deposited electronically and available automatically for your use
  5. 7. costs of operating a business
  6. 8. detailed plans for the financial needs of a business
  7. 9. Budget an estimate of the actual money received and paid out for a specific period of time
  8. 11. what a company owns; anything of value owned by a business  Liabilities-what a company owes