Accounting Puzzle

4. the concept which describes 'revenue' should be recognized when goods are sold not when cash received
6. example for an asset account
7. the financial statement which shows the profit or loss of a firm during a period
12. Father of accounting
14. the concept defines assets acquired are recoded in the accounting book at its cost or purchased price
16. probable future economic benefits owned by the entity as a result of past transection

1. 3rd process of accounting
2. the report that describes companies past performance and future prospects
3. the journal that which record all the cash transection of a firm
5. sales minus cost of goods sold state as
8. the financial statement that provides a snapshot of financial position of a firm
9. the 5th accounting process
10. prime entry book that record all the credit purchases
11. the accounting players who make necessary plans and decisions for future development
13. source document which contain details of the customer who return goods to the business
15. the accounting player who make decision regarding further investment