Accounting Terms Crossword

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