Class Room Activity I - B.Com Sem II E1 - Fundamentals of Financial Accounting - 11-12-2025

Edit Answers
123456789101112131415161718
Across
  1. 3. – The book of original entry.
  2. 4. – The concept that transactions are recorded when they occur, not when cash is received or paid.
  3. 7. – The right-hand side of an account.
  4. 8. - Things in which business deals
  5. 11. – Accounting convention requiring assets to be recorded at acquisition price.
  6. 14. – Income earned from business activities.
  7. 15. – Method in which revenue & expenses are recognized only when cash changes hands.
  8. 16. – Goods held for sale.
  9. 18. – A financial obligation of the business.
Down
  1. 1. – Concept requiring caution; do not overstate income or assets.
  2. 2. – Excess of revenue over expenses.
  3. 5. – Convention requiring the same methods to be used period to period.
  4. 6. - Basic accounting equation ______ = Capital + Liabilities
  5. 7. – Funds contributed by owners.
  6. 9. - Customers from whom money is receivable
  7. 10. – A resource owned and controlled by the entity.
  8. 12. – The left-hand side of an account.
  9. 13. – Concept stating that business and owner are separate.
  10. 17. – Concept requiring expenses to be matched with the revenue they generate.