Chapter 12

2. What a company owns
5. If revenue is greater than expenses, the business will make a ______.
6. Plans income and expenses from the beginning of a new business or a major business expansion until it becomes profitable. ____________
10. Occurs when expenses are greater than income.
13. What king of phone does edgar have?
15. Used to record and analyze the financial performance of a business _________
18. If expenses exceed revenue, the business will suffer a _____.
20. Revenue - ________ = Profit or Loss
22. with _________, the employer transfers net pay electronically into the employers bank account.
23. A _______ provides detailed plans for the financial needs of individuals, families, and businesses.
25. The value of the business after liabilities are subtracted from assets.

1. An estimate of the actual money received and paid out for a specific period. _______________
3. The form used to track each employee's pay history is a ________
4. Describes the financial plan for ongoing operations of the business for a specific period
7. _______ identify the amount assets have decreased in value due to their age and use.
8. To report the revenue, expenses, and net income or loss from operations for a specific period, the business prepares a __________________
9. What is Dakota's favorite Rascal Flatts song?
11. Differences between actual and budgeted performance
12. Maintaining payroll records and preparing ________ is an ongoing and time consuming task for businesses.
14. What month is edgar's birthday?
16. What new car did Dakota get this winter?
17. The assets, liabilities, and owner's equity for a specific date listed on the ___________
19. A _______ is the financial record of employee compensation, deductions, and net pay.
21. All income that a business receives over a period of time is called_______.
24. Who is my favorite Minnesota Timberwolves basketball player?