Vocab

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Across
  1. 3. Total amount of money owed to creditors
  2. 7. Income from the sale of goods or services
  3. 12. Any person or business that you owe money to
  4. 13. Financial claims of creditors (Debts)
  5. 14. Assets = Liabilities + Owner’s Equity
  6. 15. Financial claims to assets
  7. 16. A record of an item’s balance and changes
  8. 17. Cash or assets taken by the owner for personal use
Down
  1. 1. Total amount of money owed to a business to be received later
  2. 2. Cost of products or services to operate a business
  3. 4. Anything of value a person or business owns
  4. 5. Financial claims of owners
  5. 6. Money paid out to produce profit
  6. 8. When a business buys an item on credit
  7. 9. An economic event that causes change
  8. 10. Items of value owned by the business
  9. 11. Legal rights to property
  10. 12. Agreement of buying something and paying back later