Across
- 2. Assets = Liabilities + Owner's Equity
- 4. the action or process of investing money for profit or material result.
- 5. a person or company to whom money is owed
- 6. the total amount of money brought in by a company's operations, measured over a set amount of time
- 8. Resources of value owned or controlled by a business, such as cash, inventory, equipment, and property, that are expected to provide future economic benefits
- 9. or entity that extends credit, creating a debt, or to whom a debt is owed.
- 12. An economic event for a business that affects its financial position
- 14. remove or take away (something) from a particular place or position
- 16. The ability to obtain goods or services before payment, or the amount owed on a debt.
- 18. An asset for the seller, representing money owed to them by customers for goods or services provided on credit
Down
- 1. Obligations or debts that a business owes to outside parties, such as loans or accounts payable
- 3. The owner's claim to a business's assets after all liabilities have been paid
- 7. the cost required for something; the money spent on something
- 8. The total amount due to a business from customers for goods or services already provided on credit
- 10. the value of the shares issued by a company
- 11. A legal claim on an asset.
- 13. Any item of value that a business or person owns and controls
- 15. A specific record in the accounting system where financial information is organized
- 17. an accounting term used to describe the money owed to vendors or suppliers for goods or services purchased on credit