Accounting Vocabulary

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Across
  1. 2. a liability that is the amount of money owed by a business to its creditors
  2. 5. business owned by two or more individuals
  3. 7. money spent in excess of money earned
  4. 9. the left side of a T account
  5. 12. an asset that is the total amount of money owed to a business
  6. 13. genaerally accepted accounting principles
Down
  1. 1. place where a business's accounts are located
  2. 3. business owned by one person
  3. 4. a person who starts a business
  4. 5. money earned over and above money spent
  5. 6. the right side of a T account
  6. 8. money supplied by investors, banks, or owners
  7. 10. a legal business organization that has a life of its own
  8. 11. used to show the dollar increase or decrease in an account
  9. 12. a system designed to collect, document, and report on business transactions