basic accounting terms

1. It is the excess of revenue over expense.
4. It is the evidence of business transactions.
8. Benefit of this expenditure is exhausted within one year.
10. The main purpose of this is to increase sale. it is not recorded in the books.
12. The expenses which are due but not paid
14. These assets are not meant for resale.
15. These assets do not have physical existence.

2. The person from whom goods are purchased on credit.
3. The liabilities which are payable within one year.
5. These are items in which a business deals
6. The expenses which are paid in advance.
7. It is the quantity of unsold goods available in the business.
9. The amount or goods withdrawn by proprietor for personal use.
11. The amount invested by proprietor in the business. It is also called Net Worth.
13. The person to whom goods are sold on credit.