Government Accounting & Accounting for Non-profit Organizations

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Across
  1. 3. identification – a method used for tracking unique inventory items.
  2. 5. Assets – assets without physical form but with value.
  3. 6. – money available on hand or in the bank.
  4. 7. life – an asset with no fixed useful life.
  5. 9. average cost – a method using average cost of inventory items.
  6. 11. – a present obligation that requires payment in the future.
  7. 13. Asset – a living plant or animal used in business.
  8. 14. Property – property held to earn rent or increase in value.
  9. 16. Realizable Value (NRV) – the selling price minus all estimated costs.
  10. 17. instrument – a contract that creates an asset for one and a liability for another.
  11. 18. accounting – the process of recording and reporting government transactions.
Down
  1. 1. – income earned that increases equity.
  2. 2. – payments made using cash or check.Dishonored check – a check rejected by the bank due to insufficient funds.
  3. 4. Equivalents – short-term investments easily converted to cash.
  4. 6. replacement cost – the amount needed to replace an asset today.
  5. 8. Cash Fund (PCF) – a small fund used for minor expenses.
  6. 10. life – an asset with a limited useful life.
  7. 12. – the gradual allocation of an asset’s cost over time.
  8. 15. – the activity of farming and raising animals.