CHAPTER 17 Financial Management

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Across
  1. 4. A list of all accounts in the business is called the
  2. 5. A transaction for which cash for the sale will be received at a later date.
  3. 6. An organization that exists independently of the owner’s personal finances.
  4. 11. The system of recording business transactions and analyzing, verifying, and reporting the results.
  5. 12. A group of accounts is called
  6. 13. An individual record that summarizes information for a single category, such as cash or sales.
  7. 15. The transferring of information from the journals to the ledger is called
  8. 16. A review of the financial statements of a business and the accounting practices that were used to produce them.
Down
  1. 1. A transaction for which merchandise purchased will be paid to the vendor at a later date.
  2. 2. Recognizes revenue when it is received and expenses when they are paid.
  3. 3. the process of recording business transactions in a journal.
  4. 7. Recording the debit and credit parts of a transaction is called
  5. 8. All businesses large and small follow the generally accepted accounting principles
  6. 9. Records revenues and expenses when they occur
  7. 10. The period of time for which a business summarizes accounting information and prepares financial statements.
  8. 14. used to record business transactions in chronological order