Introduction to accounting

2. principal revenue of both the merchandising and manufacturing
3. uses financial information as a measure for making future financial decisions and a measure of its effectiveness
5. proprietorship, it is owned by one person known as as entrepreneur(the simplest form of organization)
8. defined as the gross economic inflow of economic benefit (also called revenue)
9. business owned by five or more persons whose ownership is evidenced by shares of stocks
10. also called income
11. things of value that are owned and used by the enterprise in its operation (puts money in your pocket)
14. the language of business
16. systematic and chronological recording of the financial of an enterprise
18. cost of the land where building stands
20. obligations that the firm owes (takes money out of your pocket)

1. an association of two or more persons to carry on as co-workers of a business for profit
4. equity, represents the investment of the owner in the business
6. oftentimes referred to as the cost of earning revenues
7. currencies and cash equivalents either on hand or deposited in the bank
12. Pacioli, father of modern accounting
13. refers to the amount of cash or value of the property that the owner vested in the enterprise but later withdrawn for personal use
15. she/he is interested to know whether she/he is getting a fair return of his investment
17. total initial or additional investments made by the owner
19. cost of the building owned and being used by the business