Accounting

4. Refers to a company’s goods and raw materials used for making the goods it sells.
5. Accounting method that determines the decreasing value of a tangible asset over its lifetime.
8. also called sales.
10. The amount of money left over and returned to shareholders.
11. A type of record-keeping adjustment, accruals recognize businesses’ expenses and revenues before exchanges of money take place.
13. When someone owes someone else money.
15. consist of company earnings, or profit
18. The opposite of credit
20. opposite of accounts payable.

1. Refers to the money a business owes to its suppliers, vendors, or creditors for goods or services bought on credit.
2. Are accounting entries that either increase an equity or liability account.
3. written notices acknowledging that one party received something of value from another.
6. the total compensation a company pays its employees for a specific time period.
7. Refers to the ongoing costs of doing business, other than those related to directly creating a good or service.
9. refers to the span of time in which a set of financial statements are released.
12. A risk management strategy, diversification mixes many different investments and assets in one portfolio
14. Are resources with economic value which companies expect to provide future benefits.
16. Refer to costs of conducting business.
17. Relates to how easily an individual or business can convert an asset to cash for its full market value.
19. Refers to a person’s or organization’s financial assets.