Vocab

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Across
  1. 2. total amount of money owed to a business
  2. 5. accounting term for financial claims to these assets
  3. 6. Assets = liabilities + owners equity
  4. 8. the cost of products used to operate a business
  5. 11. items of value owned by a business
  6. 12. money owed from the business
  7. 14. owners claim the assets of the business
  8. 15. legal right to property
  9. 18. a value that a person or business owns
Down
  1. 1. income earned from the sale of goods
  2. 3. buying an item on credit
  3. 4. economic event that causes a change
  4. 7. business or person selling something on credit
  5. 9. owner taking cash from the business for personal needs
  6. 10. money paid out in order to produce profit
  7. 13. creditors claim to the assets of the business
  8. 16. buying something and agreeing to pay later
  9. 17. subdivision under assets, liabilities, and owners equity