Accounting Puzzle

3. Pacioli- a Franciscan friar and a celebrated mathematician who wrote books describing double-entry bookkeeping
6. similar items are grouped or sorted under the same names/groups.
7. the exchange of goods or services for a certain sum of money or its equivalent
8. financial reporting is only concerned with information that is significant enough to affect evaluations and decisions
9. cash taken away from the funds of the business for personal use by the owner which therefore decreases proprietorship
10. principal revenue of both merchandising and manufacturing concerns in selling goods to customers
11. property of the business
12. the system of accounting commonly in use today.
15. is a business owned and operated by two or more persons
16. accounting records and statements are based on the most reliable data available so that they will be as accurate and as useful as possible
17. is something that can be recognized as having its own separate identity, such as individual, a town, a university, or a business
18. are interested in information that enables them to determine whether their loans and the related interest will be paid when due
19. equivalents either on hand or deposited in the bank

1. ownership's rights in the property
2. he wrote the first accounting book
4. is obtained when the amount you receive, for goods and services sold, is more that the amount you paid for such goods or services
5. equities of people other than the owners of the business
8. companies that buy raw materials, convert them into products and then sell the products to other companies or to final consumers
13. deals with the writing on the books or records of the business transactions or events
14. a characteristic that an accounting principle must have, that it results in information that is meaningful and useful to those who need to know something about a certain organization