Accounting Fundamentals

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Across
  1. 4. The net worth of a business and the amount owing to an owner of a business.
  2. 6. Items of value owned by a business.
  3. 9. The Accounting ____________ is A = L + OE.
  4. 10. The ongoing costs of a business.
Down
  1. 1. This states that for every transaction there is a debit entry and a corresponding credit entry of equal value.
  2. 2. The name of the account that records what an owner takes out of a business.
  3. 3. Amounts owed by a business to other people or enterprises.
  4. 5. Income generated by a business.
  5. 7. The name of the account that records the owner's contribution to a business.
  6. 8. The Accounting _____________ Assumption treats the owner of a business and the business itself as two separate identities.