Chapter 3

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Across
  1. 1. a subdivision under assets, liabilities, or owner’s equity
  2. 3. a legal right to an item
  3. 5. creditors claim; accounts payable
  4. 6. income earned from the sale of goods or services
  5. 7. an economic event that causes a change
  6. 10. owners claim
  7. 11. the amount owed to the creditors of a business
  8. 13. withdrawal and _____ have opposite effects
  9. 14. Properties; accounts receivable, equipment
Down
  1. 1. assets= Laibilities + Owners Equity
  2. 2. where the owner will take cash or other assets from the business for personal use
  3. 4. the cost of products or services used to operate a business
  4. 8. 2nd asset; total amount of money to be received later
  5. 9. money or other property paid out in order to produce profit
  6. 12. anything of value that a person or business owns