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en
CR
32
account title : terms used to identify specific elements of accounting to be used in the process of recording transactions.
asset : refers to the thing of value or right owned by the business.
liabilities : refers to the obligations of the business to transfer a measurable amount of resources.
owners equity : refers to the claim of the owner in the assets of business.
net income : refers to the excess of revenue over expenses.
revenue : refers to the gross inflow of financial resources arising from profit-making activities.
expenses : refers to the outflow of financial resources arising from profit-making activities of the business.
service : these enterprises earn their income by rendering services.
merchandising : these enterprises earn their income by buying goods and selling them to consumers at a mark up price.
manufacturing : these enterprises earn their income by buying raw materials and converting them into finised product.
trading : refers to buying and selling goods.
sole proprietorship : a business owned by one person.
partnership : a form of business in which two or more people operate the common goal of profit-making.
corporation : a for-profit, limited liability entity that has a seperate legal personality from its members.
cooperative : a for-profit, limited liability entity that differs from a corporation.
financial position : describes how muchfinancial resources and obligationsthe business has and the interest of its owner or owners.
balance sheet : contains how much the business owns, obligaton it owes, and the equity of the owners.
income statement : a financial statement designed to determine the result of business operations.
cash : currency and cash equivalents.
accounts receivable : collectibles from customers for services rendered to them.
notes receivable : collectibles for services rendered.
merchandise inventory : goods acquired for sale and are still unsold.
office supplies : papers, pens, ink, ersers and the like which are still unused.
office equipment : refers to items used to perform office functions.
machinery : heavy equipment that performs certain functions.
prepaid expenses : expenses already but not yet occured.
furniture and fixtures : reffering to movable items that are acquired to improve the condition of a place.
delivery equipment : wheeled items that are used to transport goods.
land : land acquired for used in business.
buliding : refer to structures used for business.
accounts payables : obligations to suppliers for items bought but not yet paid.
notes receivable : obligations to suppliers for items bought on credit by issuing a promissory note.
expenses payable : these are obligations for expenses already incurred but not yet paid.
owner capital : additional investment of cash.
owner drawing : withdrawals of cash.
service revenue : refers to revenue earned as a result of providing service to the customers.
professional fees : refers to revenue earned as a result of providing professional service to the clients.
sales : refers to revenue derived from sale of goods.
interest income : refers to revenue earned for lending money.
miscellaneous income : refers to minor in come earned from various activities.
salary expense : refers to amounts paid to employees.
utilities expenses : refers to amounts paid for the use of water and electricity.
rent expense : refers to the cost of using space for office of business.
freight out : refers to the cost of transporting out goods to customer.
freight in : refers to the cost of transporting in of goods during its acquisition by the business.
interest expense : refers to cost of borrowing money used bythe business.
maintenance expense : refers to the cost of repairing.
miscellaneous expenses : refers to the different minor expenses incurred.
Across:1. | refer to structures used for business. | 6. | heavy equipment that performs certain functions. | 7. | refers to items used to perform office functions. | 8. | currency and cash equivalents. | 13. | refers to the cost of using space for office of business. | 20. | refers to revenue derived from sale of goods. | 21. | a form of business in which two or more people operate the common goal of profit-making. |
| 23. | refers to cost of borrowing money used bythe business. | 25. | refers to buying and selling goods. | 26. | these enterprises earn their income by rendering services. | 27. | land acquired for used in business. | 28. | refers to the gross inflow of financial resources arising from profit-making activities. | 29. | refers to revenue earned as a result of providing professional service to the clients. | 30. | reffering to movable items that are acquired to improve the condition of a place. |
| | Down:2. | refers to the obligations of the business to transfer a measurable amount of resources. | 3. | refers to the cost of transporting out goods to customer. | 4. | refers to the outflow of financial resources arising from profit-making activities of the business. | 5. | withdrawals of cash. | 7. | papers, pens, ink, ersers and the like which are still unused. | 9. | refers to the thing of value or right owned by the business. | 10. | these enterprises earn their income by buying raw materials and converting them into finised product. | 11. | obligations to suppliers for items bought on credit by issuing a promissory note. | 11. | collectibles for services rendered. |
| 12. | these enterprises earn their income by buying goods and selling them to consumers at a mark up price. | 14. | refers to revenue earned as a result of providing service to the customers. | 15. | contains how much the business owns, obligaton it owes, and the equity of the owners. | 16. | refers to amounts paid to employees. | 17. | a for-profit, limited liability entity that differs from a corporation. | 18. | refers to the claim of the owner in the assets of business. | 19. | terms used to identify specific elements of accounting to be used in the process of recording transactions. | 22. | a for-profit, limited liability entity that has a seperate legal personality from its members. | 24. | refers to the excess of revenue over expenses. |
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PuzzleFast.com, Noncommercial Use Only
Across:1. | refer to structures used for business. | 6. | heavy equipment that performs certain functions. | 7. | refers to items used to perform office functions. | 8. | currency and cash equivalents. | 13. | refers to the cost of using space for office of business. | 20. | refers to revenue derived from sale of goods. | 21. | a form of business in which two or more people operate the common goal of profit-making. |
| 23. | refers to cost of borrowing money used bythe business. | 25. | refers to buying and selling goods. | 26. | these enterprises earn their income by rendering services. | 27. | land acquired for used in business. | 28. | refers to the gross inflow of financial resources arising from profit-making activities. | 29. | refers to revenue earned as a result of providing professional service to the clients. | 30. | reffering to movable items that are acquired to improve the condition of a place. |
| | Down:2. | refers to the obligations of the business to transfer a measurable amount of resources. | 3. | refers to the cost of transporting out goods to customer. | 4. | refers to the outflow of financial resources arising from profit-making activities of the business. | 5. | withdrawals of cash. | 7. | papers, pens, ink, ersers and the like which are still unused. | 9. | refers to the thing of value or right owned by the business. | 10. | these enterprises earn their income by buying raw materials and converting them into finised product. | 11. | obligations to suppliers for items bought on credit by issuing a promissory note. | 11. | collectibles for services rendered. |
| 12. | these enterprises earn their income by buying goods and selling them to consumers at a mark up price. | 14. | refers to revenue earned as a result of providing service to the customers. | 15. | contains how much the business owns, obligaton it owes, and the equity of the owners. | 16. | refers to amounts paid to employees. | 17. | a for-profit, limited liability entity that differs from a corporation. | 18. | refers to the claim of the owner in the assets of business. | 19. | terms used to identify specific elements of accounting to be used in the process of recording transactions. | 22. | a for-profit, limited liability entity that has a seperate legal personality from its members. | 24. | refers to the excess of revenue over expenses. |
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© 2015
PuzzleFast.com, Noncommercial Use Only