4.01 Vocabulary

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Across
  1. 4. The process of keeping financial records
  2. 5. The total value of the business
  3. 10. Money received by a business or an individual from outside sources
  4. 11. A financial summary that shows how much money the business has made or has lost; also called the profit-and-loss statement
  5. 12. Anything of value that a business owns
Down
  1. 1. The monies that a business spends; also called expenditures
  2. 2. Debts that the business owes
  3. 3. Rules that accountants must follow when preparing financial statements
  4. 6. In business, the function that involves all money and money management matters
  5. 7. A sum of money paid to an investor or stockholder as earnings on an investment
  6. 8. The amount an owner has invested in the business plus or minus profits and losses
  7. 9. sheet A financial statement that captures the financial condition of the business at that particular moment