Accountancy Crossword

2. Credit sales gives rise to
3. _______ principle provides for losses and does not anticipate profits
8. Income earned by the business from its Operating Activities
10. Person who owns the business
13. _______ principle states following same practices and policies year after year
14. Also known as owner's equity
15. The decrease in book value of fixed asset due to its use
18. ________ expense is an expense paid in the current accounting period but relating to next financial year
20. Type of discount which is recorded in the book of accounts

1. The amount or assets taken by owner for personal use
4. The cost incurred for generating revenue
5. ______ assets are not assets but are losses/expenses which are not written off in one accounting period in which they are incurred but in more than one accounting period
6. An evidence to show that a transaction has taken place
7. In which basis of accounting matching principle is followed
9. Credit purchase gives rise to _______
11. Type of discount which is applied on bulk buying
12. An amount owed by the enterprise to the outsiders
16. A reduction in the sale value due to poor quality of goods, excess supply etc.
17. Capital Expenditures are recorded as _____ in the balance sheet
19. According to ______ principle, expenses for the year are matched with revenues for the year