Across
- 2. of Goods Sold (COGS)/The cost of the inventory that was sold to generate business revenue for a specific period of time.
- 5. Labour/Work that is directly involved in the manufacturing process.
- 7. labour/Work that is not directly involved in the cost to manufacture the product.
- 8. Equity/the owner’s investment in the business, or the financial part of the business that is owned by the owner.
- 9. Reports/Financial statements are presented to shareholders and potential investors in the form of a glossy publication.
- 11. Ratio/shows how many dollars of liquid assets a business has for every dollar of short term debt.
- 12. for goods and services either bought by or sold to the business.
- 13. capital/the business’ ability to pay its short term debts.
- 15. Equity/Equity in corporations is known as shareholder’s equity because the shareholders are the owners.
- 16. business earns revenue or income from the sales of goods or services.
- 17. the payment for the goods or service received occurs at a future date.
- 18. assets can easily be turned into cash.
- 20. in Process/records the cost of all the partially finished goods at inventory time, which is normally the end of the fiscal year.
- 22. a method of recording all transactions for a business in a specific format.
- 23. Materials/are goods a business purchases and transforms into another product.
- 24. the process of recording, analyzing, and interpreting the economic activities of a business.
- 31. businesses operating in Canada have to pay taxes on their profits or earnings.
- 32. Year/a 12 month operating period for a business.
Down
- 1. Statement/a financial statement that shows a business’s profitability over a stated period of time.
- 3. allocation of money to various areas of the business. To budget accurately, the business must estimate both sales and expenses.
- 4. the total amount of the goods bought by the business in a year.
- 6. business activity involving money is recorded as a transaction.
- 10. Sheet/a financial statement that shows the financial position of a business on a single, specific date.
- 14. things of value that the business owns.
- 18. the debts of a business.
- 19. Term Assets/ Capital Assets/are assets that a business will keep for a long time. (buildings)
- 21. Statement/Are reports that summarize the financial performance of a business.
- 25. Gain/When a company sells a stock for a price that is higher than they paid for it.
- 26. Expenses/are the costs of operating the business during the period the sales took place.
- 27. Profit/ Net Income/all the money that is left over after deducting the gross profit and the expenses.
- 28. Profit/all the money that is left over after deducting the cost of goods sold form the revenue.
- 29. Receivable/Debts owed to a business by customers, suppliers, etc.
- 30. Overhead/the expenses involved in operating all the production facilities.