Accounting and Financial Literacy

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Across
  1. 4. - Tracks the money owed to a person or business by its debtors.
  2. 7. - Portions of the company's profits voluntarily paid out to investors.
  3. 8. - Accounting entries that increase liabilities or decrease assets.
  4. 9. - The amount of money left over after subtracting the cost of taxes and goods sold from the total value of all products or services sold.
  5. 10. - An expense allowance made for wear and tear on fixed assets.
  6. 13. - Defines the value of the products and services sold by a business before factoring in the cost of goods sold.
  7. 14. - Long-term owned resources of economic value that an organization uses to generate income or wealth.
  8. 15. - Expenses that can change depending on the volume of goods produced or sold by a company.
  9. 18. - The income a business earns by selling products and/or services associated with its main operations.
  10. 21. - Tracks money owed to creditors.
  11. 22. - Occurs when an individual or business owes money to another person or organization.
  12. 25. - A cost that stays the same regardless of increases or decreases in a company's output or revenues.
  13. 27. - A type of accounting that records revenue and expense-related items when they first occur.
  14. 28. - Defines the length of time covered by a financial statement or operation.
  15. 29. - The amount of money that would remain if a business sold all its assets and paid off all its debts.
Down
  1. 1. - Describes the balance of cash that moves into and out of a company during a specified accounting period.
  2. 2. - Accounting entries that increase assets or decrease liabilities.
  3. 3. - The system of accounts that firms use to record their transactions.
  4. 5. - The relative ease with which an asset can be sold for cash.
  5. 6. - Assets that a company intends to liquidate through sales operations.
  6. 11. - A master list of all accounts in an organization's general ledger.
  7. 12. - Describes the total costs a company incurred in creating a product or providing a service.
  8. 16. sheet - A standard financial statement that specifies the business's current state regarding its assets, liabilities, and owner’s equity.
  9. 17. - Specifies the profits that remain after the business has paid all costs in a given accounting period.
  10. 19. - A report of the balances of all general ledger accounts at a point in time.
  11. 20. - Revenues and expenses recognized by a company but not yet recorded in their accounts.
  12. 23. - A type of financial document that specifies the total revenues earned by the company minus all expenses incurred.
  13. 24. - Items of value or resources that a business owns or controls.
  14. 26. - Any asset or resource a business can use to generate revenue.