Basic Accounting Terms

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Across
  1. 1. An evidence of business transaction.
  2. 3. persistent fall in value of fixed assets.
  3. 5. An obligation for the business to pay back the owner at the time of winding up.
  4. 9. A series of regular financial transactions aimed at earning profit.
  5. 10. Items a business deals with.
  6. 11. profit earned during an accounting period.
  7. 12. A person to whom the business owes an amount
Down
  1. 2. Cost incurred for generating income.
  2. 4. Reduction in sale price of goods
  3. 6. A person who bears the entire risk of the business.
  4. 7. Valuables of the business and help in generating revenue.
  5. 8. Amount payable to outsiders.