Across
- 2. Also known as Balance Sheet consists of Assets, Liabilities and Capital.
- 5. Take out assets/cash from the company for own personal use.
- 6. Represent what the business own.
- 8. Represent what the business owes to its owner. It also indicate the owner's claim on the assets of the business.
- 10. Represent what the business owes to its external parties.
Down
- 1. Also known as long term liabilities. These are the debts of the business which have a repayment period of more than one accounting period.
- 3. Assets that are easily liquidated, ie. they can be converted into cash during the operating cycle of a business.
- 4. These are the short term debts of the business that are usually settled within one accounting period.
- 7. Also known as fixed assets which are tangible items that are use in the business and are not for resale. These items are expensive and can be used for many years.
- 9. Profit that the company earned after deducting its operating expenses in that particular year.