Accounting Terms

4. A business that provides a needed service for a fee.
7. Owner's claim to the assets of a business.
8. Creditors claim to the assets of a business.
11. An economic event that causes a change in assets, liabilities, and/or owner’s equity.
13. When the owner takes cash or other assets from the business for personal use.
15. A business that buys finished products and resells them.
17. The amount owed to the creditors of a business.
18. Money to be received later because of the sale of goods or services on credit.

1. A business that buys raw materials, transforms them into finished products, and sells them.
2. Income earned from the sale of goods or services.
3. An entry on the left side of an account.
5. The cost of products or services used to operate a business.
6. Property or items of value owned by a business.
9. An entry on the right side of an account.
10. Tool used to analyze transactions.
12. A legal right to property.
14. All businesses need _____ to begin.
16. Any person/business to which you owe money.