ACCOUNTING TERMS

4. These are total revenues from goods or services provided to customers
6. It is an example for current asset
7. It is the amount taken from the business by the owner for personal use.
9. The documentary evidence in support of a transaction
12. These are economic resources of an enterprise that can be usefully expressed in monetary terms.
13. A event involving some value between two or more entities
14. It is a long-term liability.
16. It is the total amount of goods procured by a business on credit and on cash, for use or sale.
17. It is the deduction in the price of the goods sold.
18. It means a thing that has a definite individual existence
20. These assets are held on a short-term basis
22. Costs incurred by a business in the process of earning revenue is known as
23. Is an example for intangible assets.
24. It is an example for liabilities.
25. The excess of expenses of a period over its related revenues its termed as

1. It is a measure of something on hand-goods, spares and other items in a business.
2. It is an example for fixed asset.
3. It refers to the products in which the business units is dealing
5. These are obligations or debts that an enterprise has to pay at some time in the future.
8. The excess of revenues of a period over its related expenses during an accounting year is.
10. They are persons who have to be paid by an enterprise an amount for providing the enterprise goods and services on credit.
11. Amount invested by the owner in the firm
15. Spending money or incurring a liability for some benefit, service or property received is
17. They are persons who owe to an enterprise an amount for buying goods and services on credit.
19. These are the amounts of the business earned by selling its products
21. A profit that arises from events or transactions which are incidental to business