Accounting Chapter 1

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Across
  1. 1. Anything of value that is owned
  2. 6. The account used to summarize the owner's equity in a business
  3. 7. Planning, recording, analyzing and interpreting financial information
  4. 8. An amount owed by a business
  5. 10. An equation showing the relationship among assets, liabilities and owner's equity
  6. 12. The amount remaining after the value of the all liabilities is subtracted from the value of all assets
  7. 13. The name given to an account
Down
  1. 2. A business that performs an activity for a fee
  2. 3. Financial rights to the assets of the business
  3. 4. Organized summaries of a business's financial activities
  4. 5. A business owned by one person
  5. 9. The amount in an account
  6. 11. A Business activity that changes assets, liabilities or owner's equity.