Accounting

3. The equation showing the relationship among assets, liabilities, and owner's equity
5. The process recording, analyzing, and interpreting financial information
6. The difference between the increases and decreases in an account
8. The standards and rules that accountants follow while recording & reporting financial activities
11. A record that summarizes all the transactions pertaining to a single item in the accounting equation
12. An increase in equity resulting from the sale of goods or services
14. Financial rights to the assets of a business
17. The principles of right and wrong that guide an individual in making decisions
18. Anything of value that is owned
19. Assets taken from the business for the owner's personal use

1. A sale for which payment will be received at a later date
2. Any business activity that changes assets, liabilities, or owner's equity
4. An account used to summarize the owner's equity in a business
6. The name given to an account
7. A person or business to whom a liability is owed
9. A business that is owned by one person
10. The amount remaining after the value of all liabilities is subtracted from the value of all assets
13. The difference between personal assets and personal liabilities
15. The cost of goods or services used to operate a business
16. An amount owed