Across
- 1. - A list of all accounts used by a business
- 4. - an event that involves a financial transaction between different parties.
- 7. - Taking money out of an account
- 8. - Manual or electronic, accounts are grouped together in a ledger
- 10. - Accounting term for the financial claims to assets.
- 12. - Detailed record of all money that a business or person receives and spends
- 14. claim - A legal right to an item
- 16. - The assests and liabilities of a business
- 17. - a system that is employed in a company to organize financial information.
- 18. - the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers.
- 21. - Generally accepted accounting principles
- 22. - the process of recording, summarizing, and reporting a company's business transactions through financial statements
- 23. - The owner’s claims to the assets of the business
- 24. - The creditor’s claims to the assets of the business
- 25. Equation - Assets = Liabilities + Owner’s Financial Claim
Down
- 2. - money owed by a business to its suppliers shown as a liability on a company's balance sheet.
- 3. - When you buy something and agree to pay for it later
- 4. - an organization created by an individual or individuals to conduct business, engage in a trade or partake in similar activities.
- 5. - a plan to put money to work today in hopes of obtaining a greater amount of money in the future.
- 6. - Anything of value that a person or business owns and therefore controls
- 9. - the process of identifying, analyzing, interpreting and communicating information to managers to help achieve business goals.
- 11. - money made
- 13. - Income is the consumption and saving opportunity gained by an entity within a specified timeframe
- 15. balance - Always on the side used to record increases to the account
- 19. - The business or person selling you the item on credit
- 20. - the cost required for something