Across
- 2. an increase or a decrease—in assets, liabilities, or owner’s equity.
- 5. equation the relationship between asset and the two type of equities (liabilities and owner's equity)
- 8. the creditor's claims to the assets of the business.
- 9. is anything of value that a person or business owns and therefore controls.
- 11. the business or person selling you the item of credit.
Down
- 1. claim is a legal right to an item.
- 3. the accounting term for the financial claim to these assets is equities.
- 4. transaction economic event that causes a change—
- 6. when you buy something and agree to pay for it later.
- 7. property or items of value owned by a business are referred to.
- 10. equity the owner's claims to the asset of the business.