Accounting terms

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Across
  1. 2. goods sold at a profit
  2. 4. suppliers owed by the business
  3. 7. goods bought in order to be resold
  4. 8. resources taken the owner for personal use
  5. 11. Assets=Owner's Equity + Liabilities
  6. 12. costs of running the business
  7. 14. customers owing the business
  8. 15. resources used by the owner to start a business
Down
  1. 1. borrowings from the bank
  2. 3. debts of the business
  3. 5. goods returned to supplier because they are unsuitable
  4. 6. negative bank balance
  5. 9. asset: Assets lasting less than 12 months
  6. 10. Equity: claims of the owner on the business
  7. 11. items of value used to generate income
  8. 13. an example of an expense