Accounting Introduction

4. Costs incurred by a business
5. Amounts owed by a business
8. Goods a business buys for resale to customers
9. Individual records showing all increases and decreases in the financial value of each item in a business
10. Shows the mathematical relationship between the assets, liabilities and owner's equity of a business
11. Evidence that a transaction has taken place
13. Money owed by the business to suppliers
17. Treats the owner of a business and the business itself as two separate identities

1. A document that provides evidence of money received
2. Asset nature
3. Income earned by a business
6. Money owed by customers to the business
7. A document that provides evidence of goods ordered from a supplier
12. The process of grouping individual accounts into similar categories
14. The process of identifying, recording, measuring, communicating and interpreting financial information
15. Items of value owned by a business
16. Accepted to be true