Accounting Key Terms

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Across
  1. 2. The amount owed, or payable, to the creditors of a business.
  2. 4. When a business buys an item on credit.
  3. 6. The total amount of money owed to a business—money to be received later because of the sale of goods or services on credit.
  4. 8. Money or other property paid out in order to produce profit.
  5. 10. Anything of value that a person or business owns and therefore controls.
Down
  1. 1. When you buy something and agree to pay for it later.
  2. 3. Income earned from the sale of goods or services.
  3. 5. The business or person selling you the item on credit.
  4. 7. If a business earns revenue, the owner will take cash or other assets from the business for personal use.
  5. 9. The cost of products or services used to operate a business.