Accounting Terminology

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Across
  1. 5. Owner takes out money from business
  2. 6. A business formed by two people but having not more than 20 people
  3. 8. Refers to the money owing by a business to others.
  4. 10. Small aspect of accounting. Involves only recording of transactions
  5. 12. Total revenue generated greater than losses.
  6. 13. Able money earned from the bank when you have a savings account
  7. 14. Balance Listing of the ending balances of all accounts of a given date
  8. 15. Goods or services which are used up to earn income in a given period
Down
  1. 1. Money borrowed from a lender and usually repaid with interest
  2. 2. A book of original entry for all transactions
  3. 3. basic unit of recording unit for transactions of a similar nature
  4. 4. Refers to any activity that affects the financial condition of a business
  5. 7. Contributions to the business by owner
  6. 9. Resources generated from a business from carrying out its activities.
  7. 11. Refer to goods which are bought for the purpose of resale for a profit