Accounting Terms Crossword

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Across
  1. 6. The expenses involved in operating all the production facilities.
  2. 9. Equity in corporations is known as shareholder’s equity because the shareholders are the owners.
  3. 15. The debt a business has to pay for real estate.
  4. 16. Financial statements are presented to shareholders and potential investors in the form of a glossy publication.
  5. 17. Are the costs of operating the business during the period the sales took place.
  6. 19. A 12 month operating period for a business.
  7. 20. The payment for the goods or service received occurs at a future date.
  8. 21. Shows how many dollars of liquid assets a business has for every dollar of short term debt.
  9. 23. When a company sells a stock for a price that is higher than they paid for it.
  10. 24. Records the cost of all the partially finished goods at inventory time, which is normally the end of the fiscal year.
  11. 28. Is the process of recording, analyzing, and interpreting the economic activities of a business.
  12. 31. Are assets that a business will keep for a long time. (buildings)
  13. 33. A financial statement that shows a business’s profitability over a stated period of time.
  14. 34. Any business activity involving money is recorded as a transaction.
  15. 35. Are the things a business owns that disappear quickly, usually in less than one year. (cash)
  16. 36. A business earns revenue or income from the sales of goods or services.
  17. 37. Purchased supplies or inventory on credit.
  18. 41. Are the debts of a business.
Down
  1. 1. The owner’s investment in the business, or the financial part of the business that is owned by the owner.
  2. 2. Is a method of recording all transactions for a business in a specific format.
  3. 3. Money borrowed from a bank or other financial institutions.
  4. 4. Liquid assets can easily be turned into cash.
  5. 5. Bills for goods and services either bought by or sold to the business.
  6. 7. The debts a business can pay off very quickly.
  7. 8. The cost of the inventory that was sold to generate business revenue for a specific period of time.
  8. 10. Debts that will not be repaid for decades.
  9. 11. All businesses operating in Canada have to pay taxes on their profits or earnings.
  10. 12. All the money that is left over after deducting the gross profit and the expenses.
  11. 13. Are things of value that the business owns.
  12. 14. All the money that is left over after deducting the cost of goods sold form the revenue.
  13. 18. Show the total amount of the goods bought by the business in a year.
  14. 22. The movement of cash in and out of the business.
  15. 25. Work that is not directly involved in the cost to manufacture the product.
  16. 26. Are reports that summarize the financial performance of a business.
  17. 27. Work that is directly involved in the manufacturing process.
  18. 29. Are goods a business purchases and transforms into another product.
  19. 30. The business’ ability to pay its short term debts.
  20. 32. Debts owed to a business by customers, suppliers, etc.
  21. 38. A financial statement that shows the financial position of a business on a single, specific date.
  22. 39. The allocation of money to various areas of the business. To budget accurately, the business must estimate both sales and expenses.
  23. 40. The difference between the cost of the product and the selling price of the product.