POB -Accounting

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Across
  1. 3. Accounting is used to make good______ decisions
  2. 5. The money received by resource owners and by producers for supplying goods and services to customers
  3. 7. EQUATION: represents the relationship between assets, liabilities, and owners’ equity
  4. 9. Assets minus liabilities; also known as stockholders’ (or shareholders’) equity, book value, and net worth.
  5. 10. = Liabilities + Owners’ Equity
  6. 13. ______sheet - A financial statement that captures the financial condition of the business at that particular moment.
Down
  1. 1. Debts, usually money, that the business owes.
  2. 2. _______RECEIVABLE: All monies owed to a firm by its customers
  3. 4. The accounting record for a specific department or area of the business.
  4. 6. ___________accounting - A type of accounting that involves preparing and reporting financial data to internal users, usually managers, who need financial information to control day-to-day operations and to make financial decisions and plans affecting the business
  5. 8. _________accounting - Used to reduce and eliminate costs in a business. Cost accounting is used to determine a price for a product or service that will allow earnings of a reasonable profit
  6. 11. Accounts ________:All monies owed by the business to others
  7. 12. _______WORTH: A company’s worth according to the balance sheet; also called book value