20 basic accounting terms

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Across
  1. 3. total money earned by a business from its operations
  2. 5. daily costs incurred to run the business and generate revenue
  3. 7. money invested by owner
  4. 9. money or goods taken out of business by owner for personal use
  5. 12. A partial refund or price deduction given to a buyer after the transaction has taken place.
  6. 15. The financial gain left over when a company’s total revenues are higher than its total expenses.
  7. 16. Revenue earned from selling goods or providing services to customers.
  8. 19. Another term for stock; a detailed list of raw materials, work-in-progress, and finished items.
  9. 20. A reduction in the standard price of goods given to encourage quick payment or large orders.
Down
  1. 1. A profit made from a non-routine transaction, such as selling an old machine for more than it's worth.
  2. 2. A written document that acts as proof of a financial transaction.
  3. 4. transaction that changes a business's financial position
  4. 6. Goods bought by a trading business specifically for the purpose of reselling them.
  5. 8. what a business owes to outsiders
  6. 10. valuable economic resources owned by a business that bring future financial benefits
  7. 11. The physical items or merchandise that a business buys and sells to make money.
  8. 13. business unit that is separate and distinct from owners
  9. 14. a record in the financial system used to track the increase and decrease of a specific item
  10. 17. The financial deficit that occurs when total expenses are greater than total revenue.
  11. 18. The goods and materials a business currently holds, waiting to be sold.