Accounting Terms Crossword

1. The movement of cash in and out of the business.
3. The payment for the goods or service received occurs at a future date.
5. A financial statement that shows the financial position of a business on a single, specific date.
6. The difference between the cost of the product and the selling price of the product.
7. All the money that is left over after deducting the cost of goods sold form the revenue.
8. The costs of operating the business during the period the sales took place.
10. Purchased supplies or inventory on credit.
11. Things of value that the business owns.
12. All the money that is left over after deducting the gross profit and the expenses.
14. The business’ ability to pay its short term debts.
15. The allocation of money to various areas of the business. To budget accurately, the business must estimate both sales and expenses.
16. Any business activity involving money is recorded as a transaction.
17. Goods a business purchases and transforms into another product.
18. The owner’s investment in the business, or the financial part of the business that is owned by the owner.

2. A 12 month operating period for a business.
3. The cost of the inventory that was sold to generate business revenue for a specific period of time.
4. Liquid assets can easily be turned into cash.
9. A financial statement that shows a business’s profitability over a stated period of time.
11. The process of recording, analyzing, and interpreting the economic activities of a business.
13. The debts of a business.
19. Earned from the sales of goods or services.