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Testing Accounting Concepts _Maryam
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Accounts Payable: A list of suppliers to whom the business owes money
Amortization: The depreciation of an intangible asset over a fixed period of time
Cash Accounting: An accounting method whereby only invoices and bills which have been paid are accounted for.
Audit: The process of checking every entry in a set of books to make sure they agree with the original paper work
Bill: A term used to describe a purchase invoice
Accounting Equation: Assets=Liability + equity
Insolvent: A limited company unable to pay its debt
Assets: Represents what a business owns
Current Liabilities: Short term loans and what the business owes its supplier in less than a year
Account: A section in a ledger devoted to a single aspect of a business e.g. a bank account, wages account, office expense account
Testing Accounting Concepts _Maryam
Across:1. | Short term loans and what the business owes its supplier in less than a year | 4. | A section in a ledger devoted to a single aspect of a business e.g. a bank account, wages account, office expense account | 6. | An accounting method whereby only invoices and bills which have been paid are accounted for. |
| 8. | A list of suppliers to whom the business owes money | 9. | Assets=Liability + equity |
| | Down:2. | The depreciation of an intangible asset over a fixed period of time | 3. | A limited company unable to pay its debt | 5. | A term used to describe a purchase invoice |
| 7. | Represents what a business owns | 9. | The process of checking every entry in a set of books to make sure they agree with the original paper work |
| |
© 2012
PuzzleFast.com, Noncommercial Use Only
Testing Accounting Concepts _Maryam
Across:1. | Short term loans and what the business owes its supplier in less than a year | 4. | A section in a ledger devoted to a single aspect of a business e.g. a bank account, wages account, office expense account | 6. | An accounting method whereby only invoices and bills which have been paid are accounted for. |
| 8. | A list of suppliers to whom the business owes money | 9. | Assets=Liability + equity |
| | Down:2. | The depreciation of an intangible asset over a fixed period of time | 3. | A limited company unable to pay its debt | 5. | A term used to describe a purchase invoice |
| 7. | Represents what a business owns | 9. | The process of checking every entry in a set of books to make sure they agree with the original paper work |
| |
© 2012
PuzzleFast.com, Noncommercial Use Only