Basic Terms in Accounting by Fabricio Morales

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Across
  1. 2. when an asset loses value over time.
  2. 4. remaining value of a company after all liabilities have been removed.
  3. 9. records a sum of money received by a business, and is listed on the right-hand column of an account.
  4. 12. Money that is owed to the business by its customers.
  5. 14. The total amount of profit a company makes after subtracting the costs associated with making and selling its products.
  6. 16. This number includes labor costs and the raw materials used to create the goods.
  7. 17. The total amount of money to be paid to a company’s employees in the form of wages, salaries and bonuses.
  8. 18. money spent by a business in order to generate revenue.
Down
  1. 1. Any debts that a company has yet to pay.
  2. 3. The amount that is earned by a business in profits, after all costs are deducted.
  3. 5. The ability to get your hands on money, whenever it is required.
  4. 6. Money that is owed by the business to its suppliers.
  5. 7. An item that a company or person owns that has monetary value.
  6. 8. represents a company’s goods that remain unsold to its customers.
  7. 10. income a business makes from its activities, before subtracting any expenses.
  8. 11. Measures how much money is moving into and out of a business during a period of time.
  9. 13. a fee for borrowing an asset. It can be considered an expense to the borrower and income to the lender.
  10. 15. the total value of a business’ assets found on the balance sheet. This number represents the total value of all of the assets a company owns if they are liquidated (sold to generate cash).