Chapter 1 vocab

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Across
  1. 1. financial value
  2. 9. assets=liabilities+owner's equity
  3. 10. design process to compile financial data
  4. 11. to see the financial state of owner
  5. 13. increase in equity
  6. 17. increases and decreases in an account
  7. 18. describes nature of business
  8. 19. anything owned
  9. 21. money taken out for owners personal use
  10. 24. name of account
  11. 25. owed liability
Down
  1. 2. a sale which a payment will be payed on a later date
  2. 3. financial rights to assets
  3. 4. anything owed
  4. 5. right and wrong
  5. 6. ethic used in making business decisions
  6. 7. summarize owner's equity
  7. 8. statements to make business decisions
  8. 12. cost of goods
  9. 14. amount remaining after liabilities
  10. 15. generally accepted accounting principles
  11. 16. summarizes transactions
  12. 20. preforms activity for fee
  13. 22. the process of planning, recording, and analyzing data
  14. 23. business owned by one person
  15. 26. difference between asset and liability