Basic Accounting Principles

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Across
  1. 2. Are a summary of a company's profit and loss during any given period
  2. 4. the maximum amount of credit a financial institution extends to a client
  3. 6. a person who has received years of education and training on accounting procedures and best practices
  4. 9. the process of recording all financial transactions made by a business
  5. 10. any person or other entity who commits capital with the expectation of receiving financial returns
  6. 13. an invoice received from a supplier, on which the supplier states the amount owed by the recipient
  7. 14. Liabilities
  8. 15. an individuals total earnings
  9. 16. The government agency responsible for the collection of taxes
  10. 17. the name of the many parts of an accounting system
  11. 19. the money generated from normal business operations
  12. 20. a statement that shows the company’s revenues and expenses during a particular period.
Down
  1. 1. a financial account maintained by a bank or other financial institution
  2. 3. an official inspection of an individual’s or organizations accounts
  3. 5. a payment to purchase goods or services
  4. 7. the degree to which a business or activity yields profit or financial gain
  5. 8. An accounting systems main ledger
  6. 11. shows the numerical balances determined by the charts of accounts
  7. 12. something a person or company owes, usually a sum of money
  8. 18. a person or business that supplies goods or services to the company
  9. 21. Are Divisions of the General Ledger that contain all transactions