Middle School Accounting Vocab Crossword

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Across
  1. 1. when a business' expenses are greater than its income.
  2. 5. Statements A written report which describes the financial health of a company; prepared on a quarterly and annual basis. Balance Sheet, Income Statement, Statement of Changes in Owner's Equity
  3. 7. The system of recording and reporting financial activity and transactions.
  4. 11. Costs of maintaining and operating a business.
  5. 12. A report showing all assets, liabilities, and owner’s equity of a business as of a specific date.
  6. 14. A plan that shows what you expect to earn and spend in a certain period of time.
  7. 15. Money owed by the business (debts, accounts payable)
Down
  1. 2. Financial statement that reports the changes that have occurred in the owner's equity account during the fiscal period.
  2. 3. The amount of money that a company earns
  3. 4. A formal examination of a company’s financial records for accuracy and compliance with regulations.
  4. 6. A report showing the revenue, expenses, and income (or loss) of a business for a specific period of time.
  5. 8. Things (items) owned by a company.
  6. 9. The specific period of time covered by an accounting statement or report (1 month or year)
  7. 10. Net worth of the business
  8. 13. when a business' income is greater than its expenses.