Accounting CrossWord

2. payable Debts owed to another business
6. The individuals and business that appear under the heading of liabilities.
7. The money left over after deducting the business expenses.
8. The term used to describe the ease of converting an asset into cash
9. Net worth of a business.
10. The movement of each in and out of a business
11. Amount of money left over from the gross profit
12. Assets are always recorded at the actual amount they cost the business
13. The money or promise of money received from the sale of goods or services.
15. based on the principle that each transaction involves two changes
16. An asset that losses value over time
17. Occurs when something that has value is exchanged for something else that has value.
18. A business year is any 12 month operating period
19. The process of recording, analyzing and interpreting the economic activities of business.

1. Recording of all business transactions
3. payment – Occurs when you have given someone prior permission for someone else to automatically take money from your bank account.
4. Money owed by customers
5. Liabilities are listed in this order, the date by which they must be repaid.
14. A report on a business cash flow over a stated period of time
20. Goods and materials kept on hand