Across
- 6. the equation showing the relationship among assets,liabilities, and owner's equity
- 9. a formal written document that describes the nature of business and how it will operate
- 10. assets taken from the business for the owner's personal use
- 15. an increase in equity from the sale of goods or services
- 16. a business owned by one person
- 20. business that performs an activity for a fee
- 21. a sale which a pyament will be recieved at a later date
- 23. the amount remaining after the value of all liabilities is subtraced from the value of all assets
- 24. formal report that shows what an individual owns, what an individual owes and the difference between the two
- 26. the difference between the increases and decreases in an account
- 27. the use of ethics in aking business decisions
Down
- 1. financial reports that summarize the financial condition and operations of a business
- 2. the stabdards and rules hat accountants follow while recording and reporting financial activites are commonly reffered to as Generally Accepted Principles
- 3. an amount owed
- 4. a record that summarizes all the transactions pertaining to a single item in the accounting equation
- 5. the principles of right and wrong that guied an individual in making decisions
- 7. financial rights to the assets of a business
- 8. the difference between personal assets and personal liabbilities
- 11. the difference between assets and liabilities
- 12. a planned process designed to compile financial data and summarize the results in accounting records and reports
- 13. the costs of goods and services to operate a business
- 14. an account used to summarize the owner's equity in a business
- 17. what accountants call any business activity that changes assets, liabilities, and owner's equity
- 18. anything of value that is owned
- 19. the name given to an account
- 22. the process of planning, recording, analyzing, and interpreting financial information
- 25. a person or business to whom a liability is owed