Chapter 9 Understanding Financial Statements

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Across
  1. 3. The dollar value of all the products and services that have been sold.
  2. 6. Items that are held for sale in ordinary course of business
  3. 8. The amount remaining from a sale after cost of the product and expenses.
  4. 9. Assets that have been paid for in advance
  5. 11. The type of equity that can also be called net worth.
  6. 12. A Financial_____ are summary of the financial status of a business.
  7. 13. Is sometimes labeled as short-term loans or liabilities.
  8. 14. A type of security including stocks, bonds, and other investments that can be turned into cash.
  9. 16. Expenditures that are incurred by the business during the accounting period.
  10. 17. A margin that represents the difference between net sales and total cost.
  11. 18. The type of accounting that keeps records conducted in a manner that meets the reporting requirements of governmental units.
Down
  1. 1. funds that are those immediately available for use without restrictions.
  2. 2. The sheet that shows the financial makeup and condition of a business
  3. 4. Projected financial statements for some specified time period in the future.
  4. 5. The sums of money that have to be paid to creditors in the future.
  5. 7. Expenses that represent the costs that are associated with specific sales transacted during the time period designated on the income statement.
  6. 10. A financial statement summarizing the firms revenue, expenses, and profit.
  7. 14. The type of accounting using financial record keeping for the purpose of helping managers.
  8. 15. The things of value that are controlled by a business.
  9. 19. An expense that represents the aggregation of several individual accounts.