Accounting and Financial Literacy

4. - Tracks the money owed to a person or business by its debtors.
7. - Portions of the company's profits voluntarily paid out to investors.
8. - Accounting entries that increase liabilities or decrease assets.
9. - The amount of money left over after subtracting the cost of taxes and goods sold from the total value of all products or services sold.
10. - An expense allowance made for wear and tear on fixed assets.
13. - Defines the value of the products and services sold by a business before factoring in the cost of goods sold.
14. - Long-term owned resources of economic value that an organization uses to generate income or wealth.
15. - Expenses that can change depending on the volume of goods produced or sold by a company.
18. - The income a business earns by selling products and/or services associated with its main operations.
21. - Tracks money owed to creditors.
22. - Occurs when an individual or business owes money to another person or organization.
25. - A cost that stays the same regardless of increases or decreases in a company's output or revenues.
27. - A type of accounting that records revenue and expense-related items when they first occur.
28. - Defines the length of time covered by a financial statement or operation.
29. - The amount of money that would remain if a business sold all its assets and paid off all its debts.

1. - Describes the balance of cash that moves into and out of a company during a specified accounting period.
2. - Accounting entries that increase assets or decrease liabilities.
3. - The system of accounts that firms use to record their transactions.
5. - The relative ease with which an asset can be sold for cash.
6. - Assets that a company intends to liquidate through sales operations.
11. - A master list of all accounts in an organization's general ledger.
12. - Describes the total costs a company incurred in creating a product or providing a service.
16. sheet - A standard financial statement that specifies the business's current state regarding its assets, liabilities, and owner’s equity.
17. - Specifies the profits that remain after the business has paid all costs in a given accounting period.
19. - A report of the balances of all general ledger accounts at a point in time.
20. - Revenues and expenses recognized by a company but not yet recorded in their accounts.
23. - A type of financial document that specifies the total revenues earned by the company minus all expenses incurred.
24. - Items of value or resources that a business owns or controls.
26. - Any asset or resource a business can use to generate revenue.