ACTG102 Week 8 Recap

6. Profits of a company which are distributed to its shareholders.
9. Payment made to employees for their services.
12. Money taken from the business by the owner for their personal use.
13. Debts or obligations that a business owes to another person or organisation for money, goods or services.
15. The account when you owe money.
16. Cost that a business incurs through its operations.
17. In accounting, at least _____ accounts are affected in a transaction.
18. The income a business earns by selling products and/or services associated with its main operations.
19. An owner of shares in a limited company.

1. When expenses are greater than revenue, you have a _____.
2. Value of an asset decreases with time
3. The excess value of a company when it is purchased by another company.
4. The account when a customer owes you money
5. The overall revenue of a business minus expenses.
7. Asset minius liability
8. An agreement between two or more people whereby they agree to conduct business together for profit.
10. The supply of stock or goods that a business has for sale.
11. A resource that a buisness owns or controls
12. A customer who owes money to a business
14. A payment to the lender of money.