Accounting Know-How Crossword Puzzle

QUESTIONS LIST: balance sheet: report of a business’s financial condition at a particular moment, bookkeeping: actually recording the business’s financial transactions, credit: arrangement by businesses to buy now and pay later, cash flow statement: a summary with estimates as to when, where, and how much money will come into and go out of a business, accounting: process of keeping financial records, ledger: accounting record for a specific department or area of the business statement, liabilities: debts that the business owes, cash: currency and coins, income: money received by a business from outside sources, stockholders: individuals who own shares of stock in a business, assets: anything of value the business owns, transaction: a business activity such as a sale or purchase, creditors: individuals to whom a business owes money, accounting cycle: a process or series of steps that businesses complete to maintain their financial records effectively, investor: those who invest their funds in a business, expenses: monies that a business spends, source documents: checks, receipts, invoices, and other items representing a business’s financial transactions, income statement: a summary that shows how much money a business has made or lost, accounting standards: rules that accountants must follow when preparing financial statements, profit: monetary reward a business owner receives for taking the risk of investing in business