Final Accounts Crossword Puzzle

QUESTIONS LIST:

• income : money that a business receives for providing goods or a service
• expenditure : money that a business spends
• trial balance : report that shows the balance of the accounts
• asset : something the business owns e.g. machinery
• liability : something the business owes e.g. bank overdraft
• depreciation : an asset decreasing in value over time
• net profit : gross profit less expenses
• gross profit : sales less cost of sales
• income statement : summary of income and expenditure
• closing stock : stock left over at the end of the period
• opening stock : stock at the start of the period
• cost of sales : the cost of selling goods