Across
- 2. Cost involved in operating a business
- 5. Period of time for which a business summarizes accounting information and prepares financial statements
- 7. Financial statement that summarizes changes in the owner’s equity during a fiscal period
- 9. Businessdebts,or what a business owes
- 10. Financial statement that reports the assets, liabilities, and owner’s equity of an organization
- 13. revenue earned from selling goods or services
- 14. review of the financial statements of a business and the accounting practices that were used to produce them
Down
- 1. Financial statement that reports how cash moves into and out of a business
- 3. Money and other assets owned by a business and used to produce goods and services
- 4. Financial statement that reports the revenue and expenses of a business for a specific time period and shows a net income or net also called profit and loss(P&L)statement
- 6. Money that a business earns for the goods and services it sells also called income
- 8. Difference between current assets and current liabilities
- 11. property or items of value owned by a business
- 12. Rules, standards, and practices that a business follows to record and report financial information