Accounting

4. the money that is left over after deducting the cost of goods sold form the revenue.
5. supplies or inventory on credit.
7. assets can easily be turned into cash.
9. that is directly involved in the manufacturing process.
10. Net Income/all the money that is left over after deducting the gross profit and the expenses.
11. financial statement that shows a business’s profitability over a stated period of time.
13. 12 month operating period for a business.
14. things of value that the business owns.
15. movement of cash in and out of the business.
16. owner’s investment in the business, or the financial part of the business that is owned by the owner.
17. business earns revenue or income from the sales of goods or services.

1. the debts of a business.
2. the process of recording, analyzing, and interpreting the economic activities of a business.
3. that is not directly involved in the cost to manufacture the product.
6. the costs of operating the business during the period the sales took place.
8. Notes Payable/money borrowed from a bank or other financial institutions.
12. financial statement that shows the financial position of a business on a single, specific date.