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CR
Chapter One Key Terms
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Partnership : owned by two or more individuals
Prepaid Expenses : assets
Private Accounting : managerial accountants employed by a business
Profit : difference from the amount received and the amount made
Proprietorship : owned by one individual
Public Accounting : provide services on a fee basis
Public Company Accounting Oversight Board : oversight body for the accounting profession
Ratio of Liabilities to Owners Equity : relationship between liabilities and owners equity
Rent Revenue : interest
Revenue : money earned by selling goods or services
Sales : recorded revenue from sold merchandise
Sarbanes Oxley Act : an act passed by congress to restore public confidence and trust in the financial statements of companies
Securities and Exchange Commission : agency of the government that has authority over accounting and financial disclosures
Service Business : business providing service rather than product
Statement of Cash Flows : summary of cash receipts and cash payments for a specific period of time
Statement of Owners Equity : summary of changes in owners equity that have occurred during a specific time periof
Unit of Measure Concept : concept of accounting requiring that economic data be recorded in dollars
Chapter One Key Terms
Across:| 4. | difference from the amount received and the amount made | | 5. | owned by two or more individuals | | 6. | business providing service rather than product | | 7. | summary of changes in owners equity that have occurred during a specific time periof | | 8. | concept of accounting requiring that economic data be recorded in dollars |
| | 10. | provide services on a fee basis | | 11. | an act passed by congress to restore public confidence and trust in the financial statements of companies | | 12. | summary of cash receipts and cash payments for a specific period of time | | 13. | relationship between liabilities and owners equity | | 14. | agency of the government that has authority over accounting and financial disclosures |
| | Down:| 1. | oversight body for the accounting profession | | 2. | interest | | 3. | assets | | 4. | owned by one individual |
| | 7. | recorded revenue from sold merchandise | | 9. | money earned by selling goods or services | | 10. | managerial accountants employed by a business |
| |
© 2017
PuzzleFast.com, Noncommercial Use Only
Chapter One Key Terms
Across:| 4. | difference from the amount received and the amount made | | 5. | owned by two or more individuals | | 6. | business providing service rather than product | | 7. | summary of changes in owners equity that have occurred during a specific time periof | | 8. | concept of accounting requiring that economic data be recorded in dollars |
| | 10. | provide services on a fee basis | | 11. | an act passed by congress to restore public confidence and trust in the financial statements of companies | | 12. | summary of cash receipts and cash payments for a specific period of time | | 13. | relationship between liabilities and owners equity | | 14. | agency of the government that has authority over accounting and financial disclosures |
| | Down:| 1. | oversight body for the accounting profession | | 2. | interest | | 3. | assets | | 4. | owned by one individual |
| | 7. | recorded revenue from sold merchandise | | 9. | money earned by selling goods or services | | 10. | managerial accountants employed by a business |
| |
© 2017
PuzzleFast.com, Noncommercial Use Only