Accounting Terms

5. Commodities in which a trader deals
6. accounting entry that may either decrease assets or increase liabilities and equity
7. The present obligations of the firm.
8. A set of rules and guidelines developed by the accounting industry for companies
10. Goods unsold lying with the business
11. The valuable resources that are owned by a firm

1. Group of accounts
2. Assets - Liabilities
3. Book of original entry
4. Amount withdrawn by a trader from the business
6. Person to whom the business owes money
9. Accounting entry where there is either an increase in assets or a decrease in liabilities