ACCOUNTING TERMS

4. The documentary evidence in support of a transaction
7. It is an example for current asset
8. These are the amounts of the business earned by selling its products
10. Is an example for intangible assets.
12. The excess of revenues of a period over its related expenses during an accounting year is.
14. It is a long-term liability.
16. Amount invested by the owner in the firm
17. Spending money or incurring a liability for some benefit, service or property received is
18. It is a measure of something on hand-goods, spares and other items in a business.
19. It refers to the products in which the business units is dealing
22. They are persons who have to be paid by an enterprise an amount for providing the enterprise goods and services on credit.
25. These are total revenues from goods or services provided to customers
26. It is the amount taken from the business by the owner for personal use.
27. These are economic resources of an enterprise that can be usefully expressed in monetary terms.

1. It is the total amount of goods procured by a business on credit and on cash, for use or sale.
2. It is an example for fixed asset.
3. A event involving some value between two or more entities
5. These assets are held on a short-term basis
6. Costs incurred by a business in the process of earning revenue is known as
9. It means a thing that has a definite individual existence
11. These are obligations or debts that an enterprise has to pay at some time
13. the future.
15. A profit that arises from events or transactions which are incidental to business
20. They are persons who owe to an enterprise an amount for buying goods and services on credit.
21. The excess of expenses of a period over its related revenues its termed as
23. It is the deduction in the price of the goods sold.
24. It is an example for liabilities.