Accounting Puzzle

2. accounting records and statements are based on the most reliable data available so that they will be as accurate and as useful as possible
7. equivalents either on hand or deposited in the bank
8. deals with the writing on the books or records of the business transactions or events
11. equities of people other than the owners of the business
15. companies that buy raw materials, convert them into products and then sell the products to other companies or to final consumers
16. is something that can be recognized as having its own separate identity, such as individual, a town, a university, or a business
18. ownership's rights in the property
19. cash taken away from the funds of the business for personal use by the owner which therefore decreases proprietorship
20. property of the business

1. he wrote the first accounting book
3. the exchange of goods or services for a certain sum of money or its equivalent
4. a characteristic that an accounting principle must have, that it results in information that is meaningful and useful to those who need to know something about a certain organization
5. is obtained when the amount you receive, for goods and services sold, is more that the amount you paid for such goods or services
6. similar items are grouped or sorted under the same names/groups.
9. the system of accounting commonly in use today.
10. is a business owned and operated by two or more persons
12. financial reporting is only concerned with information that is significant enough to affect evaluations and decisions
13. principal revenue of both merchandising and manufacturing concerns in selling goods to customers
14. Pacioli- a Franciscan friar and a celebrated mathematician who wrote books describing double-entry bookkeeping
17. are interested in information that enables them to determine whether their loans and the related interest will be paid when due