Accounting Concepts

3. Recording, reporting and interpretation of information of a business
5. Someone to whom the business owes money
6. Amounts directly or indirectly involved in operating the business, e.g. telephone, stationery
7. Company's obligation to it's lenders
11. Event between two or more parties
12. A collection of accounts of a business
14. When income exceed expenses

1. Possessions of the business
2. Book of first entry where information is recorded from the source document
4. Owners' contribution in the business
6. Interest of the owners' of the company
8. Goods the business purchases for purposes of resale for profit
9. A document issued when monies are received
10. a document issued to a customer, identifying a transaction for which the customer owes payment to the business
13. Customers that owe the business