Accounting Chapter 1

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