Accounting terms

4. owner's equity is also known as _______
5. a person to whom the business owes money for goods, in the accounting term is known as_
8. The positive difference between revenue and expense_______
9. The name given to goods that were bought by the business for resale is called______
10. An individual trading alone in her own name
11. property of all kinds like land ,equipment, and inventory is called ____
12. cash or goods taken out of a business for owner private use_____
13. the accounting term used when a cheque is used in a transaction is called _____

1. events that result in a change in the Statement of Financial Position called_______
2. a persons owes the firm money is known as_______
3. Value of goods that have been supplied to the customer is referred to as ______
6. amounts owed by the business for goods is referred to as _______
7. The process of recording business transactions