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en
CR
QUIZ NO. 1 - XFUNAC
18
business: An economic activity if buying and selling in order to obtain profit
profit: Obtained when the amount you receive is more than the amount you paid for goods or services you sold
profit: The difference between your sales revenue and your related expenses to obtain those revenue
soleproprietorship: A business organized by one person
partnership: A business organized and owned by two or more individuals called partners
corporation: A business organized as a separate legal entity from the owners. In other words, this business is considered to have its own legal identity created by law
service: A business that obtains its revenue by rendering services to its customers
merchandising: A business that obtains its revenue through buying and selling goods
manufacturing: A business that obtains its revenues by purchasing raw materials from others and converting those materials into finished product/s then sells it to customers
investor: The user of financial statements who is concerned about the return of his/her capital ventured in a business
manager: The user of financial statements who is very much concerned about making decisions when confronted with problems such as dropping an unprofitable product, shutting down operations, laying off employees, etc.
lender: The user of financial statements who is concerned about the ability of a business to pay the amount it owes to them with regards to principal and an additional charge called interest
supplier: The user of financial statements who is concerned about the ability of the business to pay the amount of goods it supplied or will supply to them
government: The user of financial statements who is concerned about the compliance of any given business to its established rules and regulations
employee: The user if financial statements who is concerned if the business can provide additional benefits and higher wages
customer: The user of financial statements who is concerned about the ability of the business to continuously provide the supplies or goods they need
relevance: A characteristic of the financial statements that provides information/s needed to make an economic decision
understandability: A characteristic of the financial statements which requires any user to have a reasonable knowledge and assessment of how these reports are made and presented. This characteristic also requires that the reports are made and presented in a clear manner
reliability: A characteristic of the financial statements that provides information which is objective and free from material misstatements. This also requires that information indicated in these reports reflects the true financial transaction/s happened and is happening in a given business
comparability: A characteristic of the financial statements that helps the user/s to identify changes taking place between two or more periods so as to assess the trend of the performance of any given business
QUIZ NO. 1 - XFUNAC
Across:4. | The difference between your sales revenue and your related expenses to obtain those revenue | 5. | The user of financial statements who is concerned about the ability of the business to continuously provide the supplies or goods they need | 6. | The user of financial statements who is concerned about the ability of the business to pay the amount of goods it supplied or will supply to them | 8. | The user of financial statements who is very much concerned about making decisions when confronted with problems such as dropping an unprofitable product, shutting down operations, laying off employees, etc. | 9. | The user of financial statements who is concerned about the ability of a business to pay the amount it owes to them with regards to principal and an additional charge called interest | 12. | The user if financial statements who is concerned if the business can provide additional benefits and higher wages | 14. | A business that obtains its revenue by rendering services to its customers | 17. | A characteristic of the financial statements which requires any user to have a reasonable knowledge and assessment of how these reports are made and presented. This characteristic also requires that the reports are made and presented in a clear manner | 18. | A business that obtains its revenues by purchasing raw materials from others and converting those materials into finished product/s then sells it to customers |
| | Down:1. | Obtained when the amount you receive is more than the amount you paid for goods or services you sold | 2. | A business organized by one person | 3. | The user of financial statements who is concerned about the compliance of any given business to its established rules and regulations | 7. | A business organized and owned by two or more individuals called partners | 10. | A business organized as a separate legal entity from the owners. In other words, this business is considered to have its own legal identity created by law | 11. | A characteristic of the financial statements that provides information which is objective and free from material misstatements. This also requires that information indicated in these reports reflects the true financial transaction/s happened and is happening in a given business | 13. | A business that obtains its revenue through buying and selling goods | 15. | An economic activity if buying and selling in order to obtain profit | 16. | The user of financial statements who is concerned about the return of his/her capital ventured in a business |
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© 2013
PuzzleFast.com, Noncommercial Use Only
QUIZ NO. 1 - XFUNAC
Across:4. | The difference between your sales revenue and your related expenses to obtain those revenue | 5. | The user of financial statements who is concerned about the ability of the business to continuously provide the supplies or goods they need | 6. | The user of financial statements who is concerned about the ability of the business to pay the amount of goods it supplied or will supply to them | 8. | The user of financial statements who is very much concerned about making decisions when confronted with problems such as dropping an unprofitable product, shutting down operations, laying off employees, etc. | 9. | The user of financial statements who is concerned about the ability of a business to pay the amount it owes to them with regards to principal and an additional charge called interest | 12. | The user if financial statements who is concerned if the business can provide additional benefits and higher wages | 14. | A business that obtains its revenue by rendering services to its customers | 17. | A characteristic of the financial statements which requires any user to have a reasonable knowledge and assessment of how these reports are made and presented. This characteristic also requires that the reports are made and presented in a clear manner | 18. | A business that obtains its revenues by purchasing raw materials from others and converting those materials into finished product/s then sells it to customers |
| | Down:1. | Obtained when the amount you receive is more than the amount you paid for goods or services you sold | 2. | A business organized by one person | 3. | The user of financial statements who is concerned about the compliance of any given business to its established rules and regulations | 7. | A business organized and owned by two or more individuals called partners | 10. | A business organized as a separate legal entity from the owners. In other words, this business is considered to have its own legal identity created by law | 11. | A characteristic of the financial statements that provides information which is objective and free from material misstatements. This also requires that information indicated in these reports reflects the true financial transaction/s happened and is happening in a given business | 13. | A business that obtains its revenue through buying and selling goods | 15. | An economic activity if buying and selling in order to obtain profit | 16. | The user of financial statements who is concerned about the return of his/her capital ventured in a business |
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© 2013
PuzzleFast.com, Noncommercial Use Only