Accounting Concepts Vocabulary Crossword Puzzle

QUESTIONS LIST:

• revenue : amount earned from sale of goods or services
• proprietorship : a business with a single owner with unlimited liability
• investors : those who commit money to a venture with the expectation of a positive return
• relevance : information that helps decision makers
• investing : purchasing of resources a company needs to operate
• liquidity : ability to pay current debts
• cogs : price of inventory sold to customers (abbr.)
• profitability : a measure of the effectiveness of management
• creditors : parties to whom amounts are owed
• accrual : revenue and expenses are recorded in the period they occur
• accounting : a systematic recording of financial transactions
• inventory : goods available for sale to customers
• solvency : long term viability of a company
• expenses : cost of assets consumed, or services used
• financing : identifying sources of outside funds for the company
• equity : claims held by owners
• conservatism : avoid overstating assets or understating liabilities
• partnership : a business with more than one owner with unlimited liability
• assets : resources expected to benefit the company in the future
• ratio : the relationship between two different financial numbers
• liabilities : obligations or debts resulting from prior transactions
• dividends : payments to stockholders
• corporation : a business owned by stockholders with limited liability
• llc : a business with a single tax burden and limited liabilities (abbr.)
• depreciation : allocate the cost of an assets over its useful life