Grade 7 EMS: Accounting Concepts

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Across
  1. 3. Money going out of the business for costs like rent, salaries, and electricity.
  2. 5. The result when expenses are more than the income earned.
  3. 7. Money owed by the business to outside parties like banks or suppliers.
  4. 10. The process of record keeping, interpretation, and communication of economic information.
  5. 12. The point where income exactly equals expenses with no gain or loss.
Down
  1. 1. Things that add value to a business such as buildings, equipment, or cash.
  2. 2. The positive result when income is more than expenses.
  3. 4. Money or wealth the owner invests into the business to get it started.
  4. 6. Money set aside and not spent for future use.
  5. 8. Money coming into the business from sales or services rendered.
  6. 9. Documents kept of all business transactions to track money and prevent fraud.
  7. 11. The exchange of goods or services for money between parties.
  8. 12. A plan of expected income and expenses for a future period.