Accounting Vocabulary - Difficult Crossword Puzzle

QUESTIONS LIST:

• going concern : the assumption that the business will continue in operational existence for the foreseeable future.
• goodwill : the amount paid to acquire a business over and above the fair value of its net separable assets.
• mark-up : percentage added to cost price to arrive at selling price.
• overheads : all costs other than direct materials, direct labor (and direct expenses, if any).
• premium : shares are normally issued at a […] above their nominal or par value.
• prepayment : an expense paid in one financial period where the benefits are not received until some future period.
• sunk costs : past costs that are irrelevant in a net present value calculation since they will not be affected whether or not the project proceeds.
• provision : amount set aside out of profits to reduce the value of an asset, due to factors such as uncertainty of value.
• liquidation : the end of a company’s existence, whereby all its assets are sold, and its liabilities paid.
• reserves : funds set aside within a limited company, created from profits or paid in by shareholders.
• solvency : the ability of a business to pay its debts as they fall due.
• discounting: the process of converting future values into present values.