ACCOUNTING

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Across
  1. 5. An association of two or more persons to carry on as co-owners of a business
  2. 7. In this phase, items are sorted and grouped
  3. 12. Defined as the gross inflow of economic benefits
  4. 14. Father of Modern Accounting
  5. 16. Amount paid for the services of employees working in the firm
  6. 17. Revenue earned for lending money
  7. 18. This includes preparation and filing of income tax returns
  8. 19. This is the principal service that a public accountant offers
  9. 20. Referred to as the cost of earning revenues
Down
  1. 1. The amount of cash or value of the property that the owner vested in the enterprise but later withdrawn for personal use
  2. 2. Defined as “present obligations of an enterprise arising from past transactions or events
  3. 3. It is also called income
  4. 4. It is an accounting job done by private business enterprises
  5. 6. Often referred to as the language of business
  6. 8. The cost of borrowing money used by the business
  7. 9. Business owned by five or more persons whose ownership is evidenced by shares of stocks
  8. 10. It is owned by one person known as proprietor or entrepreneur.
  9. 11. The principal revenue of both the merchandising and manufacturing concerns in selling goods to customers.
  10. 13. Things of value that are owned and used by the enterprise in its operations
  11. 15. Commonly referred to as bookkeeping