Basic Accounting Terms

1234
Across
  1. 1. It is a critical component of any business to run its daily operations and help its future growth. It is for a business comes either from its owners or from outsiders (shares, debentures or bonds).
  2. 2. It refer to the withdrawals made by the owners of a business for personal use. It gets deducted from the Owner’s Capital in the Liabilities side of a Balance Sheet.
  3. 3. It is the items that a company manufactures to sell to another entity in exchange for money.
Down
  1. 1. It is an individual or entity to whom a business owes money. Companies treat it as a liability because they will have to pay them in the near or distant future
  2. 4. It is an individual or entity that owes money to a business. Companies treat it as an asset because they will get money from them in the near or distant future.