Across
- 3. operate to earn money for their owners
- 6. entry on left side of a T Account
- 7. income earned from sale of goods or services
- 10. used to record information for only one accounting period
- 14. creditor's claims to the assets of the business
- 17. amount owed to the creditors of a business
- 19. owner's claims to the assets of a business
- 21. increase side of an account
- 23. making contacts with people to share information and advice
- 24. Assets = Liabilities + OE
- 25. a business owned by two or more persons who operate the business as co-owners
Down
- 1. a business owned by one person
- 2. the period of time covered by an accounting report
- 4. a business that buys raw materials and transforms them into financial products by using labor and machinery
- 5. a business that buys finished goods and resells them to individuals or other businesses
- 8. total amount of money owned to a business for goods or services
- 9. where accounts are grouped together
- 11. recognizing and recording revenue on the date earned even if cash is not received
- 12. provide clients a variety of accounting services including independent audit
- 13. handles a broad range of responsibilities, makes business decisions, and prepares and interprets financial reports
- 15. cost of products or services used to operate a business
- 16. the set of rules that all accountants use to prepare financial reports
- 18. entry on right side of a T Account
- 20. principles that you live by and the beliefs that are important to you
- 22. amount earned above the amount of expense incurred to keep the business operating