Accounting

3. These are the different sets of records, whether in the form of bound books or loose sheets wherein the various business events and transactions are recorded.
5. The recording or entering a transaction or event in the books of account is called an _____.
7. Only those articles which are purchased for the purpose of sale are called ________.
9. One who supplies goods or provides some services on credit to the business is a ___________.
10. A _________ is a particular kind of event involving some value between two or more entities.
12. _______ means the spending of money or incurring a liability for some benefit/ service received by the business entity.

1. ______ refer to the amount withdrawn or the value of goods taken by the proprietor for personal use from the business.
2. means a specifically identifiable business enterprise like Khanna Jewellers, Prakash Pipes Ltd., etc.
4. The transactions recorded in the journal are transferred to a separate book called ________.
6. _______ is the book of prime entry. It is used for recording all transactions and events of a business entity in the first stage.
8. ___________ is the amount invested by the owner(s).
11. ______________ are things of value or economic resources (property) owned by the enterprise.
13. a customer who purchases goods on credit from the business, is a ________ to the business.