Accounting Chapter 1
Across
- 2. anything of value that is owned
- 3. planning, recording, analyzing and interpreting financial information
- 5. decrease in owner's equity resulting from the operation of a business
- 6. amount owed by a business
- 7. business activity that changes assets, liabilities or owner's equity
- 9. amount remaining after the value of all liabilities are subtracted from the value of all assets
- 10. increase in owner's equity resulting from the operation of a business
- 11. use of ethics in making business decisions
- 12. reports that summarize the financial condition and operations of a business
- 20. a record summarizing all the information pertaining to a single item in the accounting equation
- 21. principles of right and wrong that guide an individual in making decisions
Down
- 1. assets taken out of a business for the owner's personal use
- 2. name given to an account
- 4. business owned by one person
- 8. process for providing financial information that will be useful to management
- 13. shows the relationship among assets, liabilities and owner's equity
- 14. account used to summarize the owner's equity
- 15. organized summary of a business's financial activities
- 16. business that performs an activity for a fee
- 17. the amount of money in an account
- 18. financial rights to the assets of a business
- 19. sale for which cash will be received at a later date