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