Chapter 1 Accounting vocab

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Across
  1. 2. An equation showing the relationship among assets, liabilities, and owner's equity
  2. 4. A business activity that changes assets, liabilities, or owner's equity
  3. 7. Amount owned by a business
  4. 9. The amount remaining after the value of all liabilities is subtracted from the value of all assets
  5. 10. The principles of right and wrong that guide an individual in making decisions
  6. 14. A business owned by one person
  7. 15. Financial reports that summarize the financial condition and operations of a business
Down
  1. 1. Planned process for providing financial information that will be useful to management
  2. 3. A record summarizing all the information pertaining to a single item in the accounting equation
  3. 5. Organized summaries of a business's financial activities
  4. 6. The use of ethics in making business decisions
  5. 8. Anything of value that is owned
  6. 11. Planning, recording, analyzing, and interpreting financial information
  7. 12. Financial rights to the assets of a business
  8. 13. A business that performs an activity for a fee