Chapter 1

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Across
  1. 4. equity from sale of goods or services.
  2. 7. system- reporting and recording financial data.
  3. 9. ethics- making decisions for a business.
  4. 12. business- a business that does something for payment.
  5. 19. analyzing, planning recording, and explaining financial information.
  6. 21. business change of assets, liabilities, or owners’ equity.
  7. 22. assets and liabilities differences
  8. 24. anything that is owed.
  9. 26. balance- accounts difference of increase and decrease.
Down
  1. 1. cost of good or services for business
  2. 2. liability that is owed by a person or business.
  3. 3. plan- description of a business and how it works.
  4. 5. equity- amount left from liability subtracted by all assets.
  5. 6. equation- equation of assets, liabilities, and owners’ equity
  6. 8. assets taken by owner from business.
  7. 10. business owed by a person.
  8. 11. worth statement- a report that shows what you owe and own
  9. 12. on account- sale that payment is given later.
  10. 13. net worth statement- difference of assets and liabilities that are personal.
  11. 14. accounting rules that accountants use.
  12. 15. financial rights of business assets
  13. 16. account- account summarizing owners’ equity in business.
  14. 17. wrong guide making decisions.
  15. 18. anything with value that is owned.
  16. 20. record of transactions and to item in accounting equation.
  17. 23. statements- financial report of business condition.
  18. 25. title- name of account