Accountancy

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Across
  1. 3. Reduction in owner's equity due to withdrawals for personal use
  2. 4. Items expected to generate future economic benefits
  3. 7. Event that has a financial impact and can be measured reliably
  4. 8. Entity to which the business has a present financial obligation
  5. 9. Owner’s residual interest after liabilities are deducted
  6. 10. Outflows that reduce owner’s equity but are not withdrawals
Down
  1. 1. Party legally obliged to pay the business for goods or services received
  2. 2. Amounts payable to outsiders due to past transactions
  3. 5. Inventory held for resale in the normal course of business
  4. 6. Documents authorizing payments or recording expenses