ACOUNTING

2. - owned by one person known as proprietor or entrepreneur
3. - items are grouped and sorted
4. - language of business
5. - principal revenue of both the merchandising and manufacturing concerns in selling good to customers
8. - cost of earning revenues
11. - total initial or additional investments made by owner
13. - gross inflow of economic benefits
15. expense - amount paid for the services of employees working in the firm
16. - association of two or more persons to carry on as co-owners of a business.
18. - value of the property that the owner vested in the enterprise but later withdrawn for personal use.
19. - accountant's interpretation

1. - business owned by five or more persons
2. - summarized through financial statements
4. - resources controlled by the enterprise as a result of past transactions
6. - is also called income
7. type - derives their incomes from sales of services to clients or customers
9. - present obligations of an enterprise arising from past transactions
10. - referred to as bookkeeping
12. payable - obligations or debts payable by the business to other parties for services acquired
14. SERVICES - filing of income tax returns
17. - is a principal service that is offered by public accountants