Accounting Terms

2. A person/organisation which owes money to the business.
5. a person or an enterprise which is in a position to pay its debts.
7. an economic activity which impacts the financial position of a business.
8. The excess of expenses of a period over its revenue.
11. The amount owed by a business.
12. Revenue-expense
15. This is the same as bankruptcy.
17. It is also called as stock.
18. Record of transactions under a particular head.
22. Income earned by the business from its operating activities.
23. The recording of any business or financial transactions.
24. reduction in price of goods by the seller after they have been sold off.

1. The fall in the prices of the fixed asset because of its usage or efflux with time.
3. Amount receivable or received for selling assets or goods by a business.
4. person who makes all the decisions and bears all the risks associated with the business.
6. Economic resources of a business which helps it in earning profit.
9. The increase in owner's equity resulting from something other than the day to day earnings.
10. Reduction in the price of goods for a customer by the enterprise.
13. The money/goods invested by the proprietor in the business.
14. Amount spent by a business or the liability incurred for acquiring goods and services.
16. The money/goods withdrawn from the business for the proprietor's personal use.
19. It's the right side of the account.
20. A person/organisation to which business owes money.
21. It's the left side of the account.