Across
- 4. a business owned by one person
- 5. an account used to summarize the owner's equity in a business
- 6. financial assets of a business
- 9. the equation showing the relationship among assets, liabilities, and owner's equity
- 10. any business activity that changes assets, liabilities, or owner's equity
- 11. a formal written document that describes the nature of a business and how it will operate
Down
- 1. the amount remaining after the value of all liabilities is subtracted from the value of all assets
- 2. a record that summarizes all the transactions pertaining to a single item in the accounting equation
- 3. a business that performs and activity for a fee
- 5. a person or business to whom a liability is owed
- 7. the name given to an account
- 8. the difference between the increases and decreases in an account