Clue #4 Crossword

3. a company's estimate of the amount of sales that will never be paid
5. things a company owes
9. _______________ assets are expected to be converted into cash within one year
10. ____________________ depreciation methods allocate more depreciation expense at the beginning of an asset's useful life (example: 200% method)
12. an error large enough to cause people to make a decision that is different from a decision they would make if they had the correct figures
14. the account equations states that assets = liabilities + ____________
15. what is left after subtracting expenses from revenue
17. companies should record certain assets on their balance sheet at the lower of cost or _____________
18. cost to the company of the merchandise sold to customers
20. if a company wants to pay less in taxes, they should select the ____________ method of valuing inventory

1. __________ costs or expenses are those costs that become part of the manufactured product
2. the level of sales at which point there is neither income nor loss
4. requires that expenses be deducted from related revenues during the periods in which they occur
6. a stock of items a company holds to be sold in the future
7. costs that contribute toward the creation of revenue
8. the spreading out of the cost of an asset over its useful life
11. things a company owns
13. a type of discount offered to customers for prompt payment
16. ___________ expenses generally remain the same, even if sales increase
19. a balance sheet is considered this, while an income statement is a moving picture